Global alternative asset manager GLP Capital Partners (GCP) raised $12.3bn in equity in 2022 for its real assets and private equity strategies, bringing total assets under management to approximately $125bn at year-end.
Last year, GCP established 16 new funds across Asia Pacific, the US, and Europe, including a new flagship China value-add fund, inaugural Hong Kong and Vietnam funds and a $1,5bn US self-storage real estate fund, which at the time of the announcement was the largest fund of its type ever raised.
Craig Duffy, managing director of fund management at GCP, said: “We are proud and excited to have established our first Hong Kong and Vietnam focused funds in addition to our first self-storage fund in the US, where we believe our proprietary operating platform and a premium portfolio in supply-constrained markets positions us for outperformance.
“Hong Kong industrial is a compelling sector with strong future growth potential driven by tight new supply and supportive policy to modernize industrial projects. In Vietnam, we have secured nine projects nationwide and continue to see tremendous interest in GCP’s modern logistics facilities from an acceleration of global supply chain shifts and growing domestic consumption.
“These are great opportunities that play to GCP’s strengths in areas where we have deep, long-term conviction, leveraging our global reach, local market knowledge, and commitment to sustainability to drive investment performance.”
Ralf Wessel, managing director of fundraising at GCP, added: “Despite a challenging market environment, 2022 was one of our strongest fundraising years. We are grateful to both our existing and new investors for their confidence, trust and continued support as we build on our long-term track record of value creation for all our partners.”
