GLP, Asia’s biggest logistics investor, has launched what it hopes will become a record $9bn real estate fund in Japan.
The fund wants to take advantage of the pandemic-driven e-commerce boom, which has triggered a rush for warehouse space and exposed the gaps in the Japanese market.
GLP said on Tuesday that it had raised ¥311bn ($2.7bn) from sovereign wealth funds, pension funds and insurance companies for the biggest ever Japan-focused private real estate fund.
Known as Japan Development Partners IV, the fund is expected to have more than ¥1tn of assets under management by the time it is fully deployed.
