Morrison & Foerster Advises GLP on Establishment of US$5.6 billion Japan Development Fund

12/22/2018

Jason R. Nelms, Shirin Tang, Joshua Robert Isenberg, Matthew Y. Lau, Shane M. Shelley, Junichi Kurokoshi, Yemi Tépé, and Sylvia Cheng

Private Funds, Private Equity Investments + Buyouts, Private Equity + Venture Capital | China, Real Estate, and Real Estate | Japan

MoFo News Item

Morrison & Foerster LLP advised longtime client GLP Pte. Ltd. (GLP), the leading global provider of modern logistics facilities and technology-led solutions, on the establishment of the largest ever Japan-focused logistics private real estate fund.  As detailed in GLP’s press release, GLP Japan Development Partners III (GLP JDP III) is expected to reach JPY625 billion (US$5.6 billion) of assets under management when fully invested.

GLP JDP III is a follow-on venture to GLP Japan Development Venture I and II, GLP’s first two Japan development vehicles in partnership with CPPIB, which have reached full capacity. With the establishment of GLP JDP III, GLP Japan will manage over US$18 billion AUM across four private equity funds and GLP J-REIT.  Morrison & Foerster also advised GLP on the formation of GLP Japan Development Venture I and II.

The MoFo team advising GLP on GLP JDP III was led by partners Jason Nelms and Shirin Tang and associate Sylvia Cheng, with support from Tokyo partners Josh Isenberg and Junichi Kurokoshi, tax partners Matthew Lau and Shane Shelley and finance partner Yemi Tepe.  Bryan Lam and Wyatt Zhang also assisted.

MoFo’s extensive involvement in market-defining private equity real estate transactions has continued strongly through 2018, having advised on more than 60 significant real estate transactions in Asia with total deal value in excess of US$60 billion in the last three years. The firm has consistently been acknowledged as a leader in both transactional and fund formation work in the annual Private Equity Real Estate (PERE) Global Awards.

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