Singapore-based logistics provider GLP launched a $1.6bn investment fund yesterday that will target the logistics ecosystem in China.
The fund will be managed by Hidden Hill Capital, the private equity arm of the corporate’s local subsidiary, GLP China, and its limited partners include unnamed insurance providers and long-term institutional investors, such as investment firm China Post Capital.
Hidden Hill Modern Logistics Private Equity Fund will be the only fund in China dedicated entirely to the logistics sector, according to GLP, and will target innovative companies in the space.
The company currently has $50bn of assets under management, much of which is concentrated in real estate, and it expects to establish additional funds in future.
Ming Mei, GLP’s co-founder and CEO, said: “The launch of Hidden Hill is a major milestone for GLP. The fund will invest in adjacent growth sectors that complement GLP’s real estate business, with a focus on companies employing technology to enhance efficiency in the logistics industry.
“We are excited to partner with like-minded investors, continuing our strategy of pioneering a smart logistics ecosystem that harnesses technology to enhance returns for our customers.”