Global Logistic Properties Ltd said it had teamed up with Singaporean sovereign wealth fund GIC Pte Ltd to invest $8.1 billion in a U.S. logistics real estate portfolio, its first foray into the United States. Singapore-listed GLP, which provides logistics facilities in China, Japan and Brazil, said in a statement it would initially hold a 55 percent stake in the venture and GIC would take 45 percent. GLP added however that it would cut its stake to 10 percent by August 2015 as it had received interest from investors looking at the U.S. logistics market. “This transaction gives us immediate scale as well as the best team in the U.S. logistics market,” GLP co-founder and chief executive officer Ming Z. Mei said. GLP and GIC are taking over the portfolio from various companies affiliated with the Blackstone Group L.P.. GIC has stepped up its real-estate purchases in recent months, buying office buildings in Tokyo and investing in Australian student accommodation as a way to diversify its portfolio and secure better yields. (Reuters)