GLP closes fourth Japan fund at $3.57bn

Jan 19, 2022 | News

GLP, the Singapore-based global real estate logistics developer and investment manager, on Wednesday announced a final close for its GLP Japan Development Partners IV fund at $3.57bn.

The fund, launched only three months before in October 2021, was two times oversubscribed. When fully deployed, with leverage, the fund is expected to have assets under management of more than $8.8bn.

The news release said the $3.57bn in commitments came from a diversified group of pension funds, sovereign wealth funds and insurance companies from North America, Asia and the Middle East.

In October, the $425.4bn Canada Pension Plan Investment Board, Toronto, announced it had committed around 1bn to the fund.

GLP Japan Development Partners IV was the company’s second hefty Japan-focused fund to close over the past 18 months, following a $2.6bn core fund, the GLP Japan Income Fund, in August 2020. With the latest commitments, the company manages over $30 billion in Japan logistics strategies across five private funds and a listed J-REIT.

The news release said GLP has real estate and private equity AUM of more than $120 billion across Brazil, China, Europe, India, Japan, the U.S. and Vietnam.

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However, the fund is not expected to focus exclusively on Europe. Its predecessor targets investments in Europe and the US with an investment range between €125 million and €1 billion and a focus on healthcare, TMT and services and industrial technology.

Notable deals from EQT IX include biopharma company Parexel, which EQT and Goldman Sachs Asset Management acquired in July last year for $8.5 billion, and real estate investment firm Exeter Property Group which EQT bought for over $1.8 billion in January, 2021.

Source: Pensions & Investments

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