GLP, a Singapore-based global thematic business builder and investment manager, has on Tuesday launched maiden data center fund in China with asset under management (AUM) of RMB 2.6 billion ($358 million).

The firm announced in a statement the closing of its first digital infrastructure focused strategy – GLP China IDC Income Fund I.

The capital raise was backed by a group of top tier China-based and international institutional investors and marks a key milestone for GLP in a fast-growing new economy asset class which has been a strategic focus area for the company since 2018.

Drawing from its logistics industry playbook, GLP has built a vertically integrated platform offering full stack capabilities from technical design, development, asset management, leasing/sales and operations.

The fund will acquire a fully operational, high-performance data center developed by GLP and fully leased to a leading e-commerce company.

Located in Greater Beijing region, the seed asset is constructed to tier III+ (T3+) standards, with a strong emphasis on environmental sustainability and energy efficiency.

“Digital infrastructure is essential to the adoption and advancement of artificial intelligence (AI),

“GLP China IDC Income Fund I is indicative of strong investor demand for stable income streams backed by high quality real assets with the potential of long-term capital appreciation,” said Teresa Zhuge, Executive Vice Chairman and Chairman of the Executive Committee of GLP China.

With the firm’s operating and investment expertise, customer access and a track record of growth at scale, she said the firm is confident in building a competitive and differentiated data center business to capture outsized growth in the new digital economy.

It is noted that GLP has been deeply involved in China’s real estate sector for over two decades, and through its knowledge and expertise in the market, was able to anticipate the explosive growth potential of the country’s data center market which is currently experiencing exponential demand.

The rise in adoption of AI, cloud services, 5G communications and internet of things continue to drive demand for domestic data center capacity, with the data center market in China forecasted to increase by $274 billion at a compound annual growth rate (CAGR) of over 38 percent from 2025 to 2029.

This is supported by government-led policies aimed at driving AI-enabled innovation and growth across a range of industries.

As one of the country’s leading independent data center operators, GLP controls assets that will deliver 1.4 GW secured information technology (IT) capacity in total, including 20 data centers across the four core regions of Beijing-Tianjin-Hebei, The Yangtze River Delta, the Greater Bay Area and the Mid-Western Region.

GLP China IDC offers build-to-suit, turn-key and powered shell solutions for both hyperscalers and enterprise customers and employs innovative and sustainable solutions including the use of flexible cooling, renewable energy and smart operation systems to improve energy efficiency and reduce the carbon impact of its assets.

Focused on creating scaled platforms within its core sectors of logistics, digital infrastructure and renewable energy, GLP, through its asset management arm GLP Capital Partners, manages over $80 billion of assets under management.

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