Trasporti
GLP to Establish €2 Billion Partnership with CPPIB and QuadReal
Ming Mei , Co-Founder and CEO of GLP, said: "The proposed establishment of GLP CDP I reflects the confidence that institutional investors have in GLP and Gazeley, our Europe platform. We are committed to a long-term growth strategy in Europe . Demand from institutional investors to partner with GLP remains strong and we see opportunities to expand our fund management platform further."
Andrea Orlandi , Managing Director, Head of Real Estate Investments -- Europe, CPPIB, said: "This partnership deepens our longstanding relationship with GLP, one of our largest global partners and establishes a new relationship with QuadReal. GLP CDP I is a key part of our development-led growth strategy in the logistics sector globally, and will significantly enhance our existing holdings in Continental Europe. We expect GLP CDP I to grow quickly in scale and perform well over the long term given rising e-commerce sales and consumer demand for ever-shorter delivery times in Europe ."
Jay Kwan , Head of Europe , QuadReal, said: "Research and experience inform our high conviction about developing logistics facilities in select, target markets that will create a resilient industrial portfolio. We are delighted to be partnering with CPPIB and GLP as we invest in the logistics sector across Continental Europe."
Gazeley is GLP's Europe platform. Customer demand in Europe continues to grow, with Gazeley signing more than 351,000 sqm (3.8 million sq ft) of new leases since the start of the year to customers including Amazon, Kingfisher, Wayfair and Zeus Packaging. Gazeley has begun construction on over 550,000 sqm (5.9 million sq ft) of new developments in the period as well as replenished its development landbank. With the establishment of GLP CDP I, GLP will have three funds in Europe totaling more than €6 billion ( US$7 billion ) AUM when fully invested.
GLP has approximately US$60 billion of assets under management globally and continues to see strong interest from institutional investors across its real estate and private equity strategies given GLP's operational excellence, innovative use of technology and strong risk management and capital allocation.
Ambika Goel , CFA
SVP, Capital Markets
Tel: +65 6643 6372
Email: agoel@glprop.com
Rob Yates
Smithfield Consultants
Tel: +44 (0)20 3047 2546
Email: ryates@smithfieldgroup.com
.
Steve McCool
Global Corporate Communications
Tel: +44 20 3947 3002
Email: smccool@cppib.com
Susan L. MacLaurin , CFA
EVP, Corporate Communications
Tel: +1 604 975 9563
Email: susan.maclaurin@quadreal.com
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