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Sovereign Wealth Funds Briefing - Categorized | Market

Singapore logistics firm GLP expands into Brazil

Posted on 16 November 2012

Asia’s largest logistics provider Global Logistic Properties Ltd (GLP) has tied up with three major investment funds to buy logistic assets in Brazil for 2.9 billion reais ($1.45 billion), expanding its global network into Latin America’s largest economy. Singapore-based GLP, a unit of the island nation’s sovereign wealth fund, manages best-in-class warehouses operating in 36 markets across Asia with leading businesses in China and Japan.
In a statement, GLP said that it will form two joint ventures with Canada Pension Plan Investment Board (CPPIB), China Investment Corporation (CIC) and Government of Singapore Investment Corporation (GIC) to acquire two portfolios of logistics facilities from Brazil’s Prosperitas with GLP’s initial equity investment of $334 million………………………………………..Full Article: Source

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