Global logistics builder and investor GLP has secured up to $1.5 billion from a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) to support its next phase of growth.
The investment includes ADIA’s initial capital deployment of $500 million, which is expected to accelerate Singapore-based GLP’s efforts in creating scaled platforms across logistics, digital infrastructure, and renewable energy, said the companies in a joint statement on Thursday.
These sectors benefit from “structural tailwinds driven by the expansion of e-commerce, accelerating adoption of AI/cloud technologies and the global shift towards cleaner, more sustainable energy sources,” said the companies.
The transaction will see GLP, which manages about $80 billion through its asset management arm GLP Capital Partners, deepen its fund-level collaboration with the Abu Dhabi’s sovereign wealth fund.
The developer closed its first digital infrastructure fund at RMB2.6 billion ($358 million) from China-based and international institutional investors in April this year.
In August 2021, GLP announced the closing of GLP Brazil Development Partners II, its logistics-focused fund in Latin America, with $530 million in total equity commitments from investors including subsidiaries wholly owned by the ADIA and Canada Pension Plan Investment Board (CPP Investments).
GLP, which was listed in Singapore before its privatisation in 2017, was said to be mulling a Hong Kong listing that could happen as early as 2025, Reuters reported in November 2024.
