GLP Closes 2021 With Record Performance Across Logistics, Digital Infrastructure and Renewable Energy
- Raised more than $13.6 billion of equity capital in record fundraising year
- Commenced $7.9 billion of new developments, up 50 percent year-on-year
- GLP is building a competitive digital infrastructure business of over 2,500 MW, reflecting strong and growing investor demand for the asset class
- Solar capacity increased by more than 85 percent to 415 megawatts; expanding renewables portfolio to wind energy
Singapore, 24 February 2022 – GLP, the leading global investment manager and business builder in logistics, digital infrastructure, renewable energy and related technologies, announced record fundraising, leasing and development activity in 2021, with global assets under management surpassing US$120 billion as of December 2021.
Ming Mei, Co-founder and CEO of GLP, said: “In 2021, we raised more than $13.6 billion of equity capital on the back of record global fundraising in logistics and we continued to make great strides in our data center and renewables strategies. Our growth was also supplemented by our private equity teams who lead the charge on creating synergies between our technology ecosystem and real estate investments to better serve our customers, investors and partners.”
“We view ESG is an integral part of our long-term success as investors and business builders and as global citizens we remain committed to doing our part to accelerating the clean energy transition by growing our renewable energy business and working to reduce carbon in our portfolio.”
GLP’s global logistics business is one of the largest in the world spanning 75 million square meters (“sqm”) (800+ million square feet) and $100+ billion of real assets AUM across 17 countries. Amidst strong demand from existing and new investors, GLP established six new funds in 2021 across diverse geographies and strategies, while onboarding 19 new institutional investor relationships. GLP also established a global strategic partnership with AIA, Asia’s largest life insurer, to invest in the global logistics real estate industry and related opportunities.
GLP continued to demonstrate strong portfolio dynamics, signing lease agreements for 24.3 million sqm of space across its global portfolio. The Group also completed 4.7 million sqm of new properties and commenced over $7.9 billion of new developments, an increase of 50 percent year-on-year.
Digital infrastructure is a key growth engine for GLP, sitting alongside the established logistics real estate business and the emerging renewables business. To offset this high-energy-consuming industry we use technology and smart design to reduce power consumption and have deployed photovoltaic power generators in the data centers to reduce consumption in meaningful amounts.
In China, GLP is one of the largest vertically integrated data center operators with over 350 team members and assets that will provide over 1,400 megawatts (MW) of IT capacity. GLP recently delivered the first phase of a 120 MW data center campus in Changshu High-tech Industrial Development Zone, Jiangsu Province outside of Shanghai to one of GLP’s existing customers.
GLP has also secured prime data center campus sites across Japan and Europe to capitalise on growth opportunities in the digital infrastructure industry. The company believes it is well-positioned to tap into this market by leveraging its asset and fund management expertise, ability to acquire land for development and experience in the construction of high-quality, modern warehouses to build a competitive global digital infrastructure business of over 2,500 MW of IT capacity.
GLP continues to replace fossil fuel energy with solar power, with approximately 191 MW added to the grid in 2021, representing a 85 percent growth of existing capacity. Globally, GLP has 4.4 million sqm of rooftop solar panels producing in excess of 415 MW of solar energy or equivalent to the annual consumption of more than 55,000 households.
GLP also has a joint venture with CATL, the world’s leading battery provider and the largest maker of electronic vehicle batteries to collaborate on clean energy storage solutions, and has also established new partnerships to expand its renewables portfolio to wind energy.
GLP invests in both established and growth-stage businesses through its private equity business. As of the end of 2021, GLP has invested more than US$3 billion in more than 100 technology-related private equity companies globally including U.S. real estate technology firm VTS; e-commerce fulfillment technology firms Deliverr and Yimidida; load-matching platform For-U and Flock Freight, supply chain data platforms Parsyl and Orderful, express delivery startups Loggi and FrontDoor Collective, as well as fleet management SaaS platforms including G7, SmartDrive and Cobli.
GLP’s Hidden Hill Capital has reached approximately $3 billion AUM, with its first fund focused on renewable energy charging stations launched to market in October 2021. During the year, five of its investments went public including Eastern Airline Logistics and JD Logistics.
GLP-backed private equity fund-of-funds (vehicle GLP-C&D Investment Fund has allocated more than 60 percent of its RMB 5 billion (~$800 million) investment capacity and our partner China Merchants Capital raised over RMB 27 billion ($4.3 billion) in 2021 and was recognised as the top-ranked Chinese firm in Private Equity International’s top 300 and Infrastructure Investor 100 list as well as No. 7 on Zero2IPO's Chinese PE Investment Institutions 100 list.
GLP is a leading global investment manager and business builder in logistics, digital infrastructure, renewable energy and related technologies. Our combined investing and operating expertise allow us to create value for our customers and investors. We operate across Brazil, China, Europe, India, Japan, the U.S. and Vietnam and have more than $120 billion in assets under management in real estate and private equity.
We are committed to a broad range of ESG commitments that elevate our business, protect the interest of our shareholders and investors, support our employees and customers and enhance our local communities. Learn more at glp.com/global.
Craig A. Duffy
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