Global real estate logistics provider GLP has established the largest ever Japan-focused private real estate fund. On Oct 19, the Singapore-based firm announced it had raised JPB311 billion ($2.75 billion) for GLP Japan Development Partners IV (GLP JDP IV).
This surpasses the previous fundraising record set by its predecessor, GLP JDP III, which raised JPY250 billion in 2018. GLP JDP IV is the fourth fund under GLP's logistics development fund series in Japan.
GLP JDP IV is targeting JPY412 billion of total equity commitments, with assets under management (AUM) expected to reach over JPY1 trillion ($9.1 billion) when fully deployed.