Singapore-based GLP has launched a new fund that will invest in logistics assets in GLP Park Lingang in Shanghai, said to be the biggest and most advanced port-based logistics park in China.

The GLP China Value-Add Venture III, established with a group of international and domestic institutional investors through a parallel fund structure, has a total investment capacity of 4.5 billion yuan (US$675 million).

It is the third China-focused value-add fund in GLP’s logistics real estate series which seeks to generate long-term, stable returns by investing in high-quality and well-designed properties in prominent locations.

GLP says 2020 has been its largest-ever fundraising year. Globally, the company has added over US$12 billion of assets under management with the launch of six new funds in its real estate and private equity strategies.