GLP Vietnam Improvement Companions I is ready to be certainly one of SEA’s largest logistics improvement funds
GLP entered the Vietnam market in 2020 by a strategic three way partnership with SLP
SINGAPORE AND HO CHI MINH CITY – Media OutReach – 21 January 2022 – GLP introduced immediately the institution of GLP Vietnam Improvement Companions I (“GLP VDP I”) with an funding capability of $1.1 billion. The fund has obtained commitments from a well-diversified investor group throughout Asia, Europe, North America and the Center East representing pension funds, sovereign wealth funds and insurance coverage firms.
Via this transaction, GLP welcomes a number of new traders to its fund administration platform together with the Dutch pension fund supervisor APG Asset Administration (“APG”) and Toronto-headquartered world monetary companies supplier, Manulife.
GLP VDP I, which can deal with creating fashionable and environmentally-friendly logistics amenities in Better Hanoi and Better Ho Chi Minh Metropolis, is seeded with six improvement websites with a complete land space of near 900,000 sq. metres and has a strong improvement pipeline of additional alternatives. It’s set to be one of many largest logistics improvement funds in Southeast Asia (“SEA”).
Craig A. Duffy, Managing Director, Fund Administration, mentioned, “Institutional funding in APAC’s logistics sector has been robust and inside SEA, Vietnam is among the most engaging markets given its inhabitants dynamics, rising financial system and center class which help home consumption. We see similarities between Vietnam and our logistics companies in China and India and know we are able to leverage our experience and information from our experiences in these markets to create a sustainable, market-leading enterprise in Vietnam.”
Kent Yang, a founding associate of SLP, mentioned, “We’re very excited concerning the institution of GLP VDP I. Vietnam is the suitable place on the proper time for SLP, and we’ve a long-term view to develop our enterprise right here. With the shift of provide chain and absence of recent logistic amenities, this creates super alternative and demand for SLP’s logistics infrastructure.” Chih Cheung, a founding associate of SLP, added, “Vietnam’s logistics trade can be experiencing robust progress attributable to robust home consumption from a rising center class and to speedy e-commerce adoption. We thank and welcome the traders into our fund and sit up for serving our world and native prospects with GLP-SLP’s distinctive nationwide community and huge built-in platform.”
Graeme Torre, Managing Director and APG’s Head of Asia Pacific Actual Property, mentioned, “With the continued world provide chain shifts to Vietnam, a rising center class to uphold financial progress, in addition to having one of many quickest rising e-commerce markets in SEA, we imagine Vietnam logistics is a horny alternative for us to enter within the area. Vietnam logistics market compliments very nicely with our current regional logistics publicity, whereas additionally providing very robust risk-adjusted returns that can profit our pension fund purchasers and their contributors. With GLP’s intensive world observe document, their ESG credentials and experience within the logistics sector, we’re happy to be partnering with GLP on this enterprise for our first foray into Vietnam.”
In keeping with Gerald Posthuma, Chief Funding Officer of Asia Basic Accounts Funding and Kenny Lam, Senior Managing Director, Head of Asia Actual Property Investments for Manulife, “We’re delighted to associate with GLP and SLP alongside different like-minded traders on this enterprise. Vietnam is certainly one of Manulife’s key progress markets in Asia and we proceed to imagine in its robust financial fundamentals in the long term. This funding is certainly one of our first few actual property investments available in the market, and it bodes nicely with our long-term actual property technique within the area.”
SLP (SEA Logistic Companions) is GLP’s Vietnam platform with a powerful native workforce of greater than 30 staff. SLP is dedicated to ESG (Environmental, Social, and Governance) initiatives and is concentrated on making sustainability a core element of its enterprise by practising accountable investing and improvement and selling higher well-being in Vietnam.
GLP is a number one world funding supervisor and enterprise builder in logistics, information infrastructure, renewable power and associated applied sciences. Our mixed investing and working experience enable us to create worth for our prospects and traders. We function throughout Brazil, China, Europe, India, Japan, the U.S. and Vietnam and have greater than $120 billion in belongings beneath administration in actual property and personal fairness.
We’re dedicated to a broad vary of ESG commitments that elevate our enterprise, defend the curiosity of our shareholders and traders, help our staff and prospects and improve our native communities. Be taught extra at glp.com/world.
SLP (SEA Logistic Companions) is an industrial and logistic facility improvement and operation platform backed by GLP, the main world supplier of recent logistics amenities and technology-led options. We are going to create world-class industrial & logistics infrastructure in Southeast Asia to help the expansion of our prospects and the area’s financial improvement. Be taught extra at slpprop.com.
As the biggest pension supplier within the Netherlands, APG takes care of the pensions of 4.7 million contributors. APG gives govt consultancy, asset administration, pension administration, pension communication and employer companies for pension funds and employers within the sectors of training, authorities, development, cleansing, housing associations, sheltered employment organizations, medical specialists, and designers. APG manages roughly €627 billion (November 2021) in pension belongings. With roughly 3,000 staff, APG has places of work in Heerlen, Amsterdam, Brussels, New York, Hong Kong, Shanghai, and Beijing. For extra info, please go to www.apg.nl.
Manulife Monetary Company is a number one worldwide monetary companies supplier that helps individuals make their selections simpler and lives higher. With our world headquarters in Toronto, Canada, we offer monetary recommendation and insurance coverage, working as Manulife throughout Canada, Asia, and Europe, and primarily as John Hancock in the USA. Via Manulife Funding Administration, the worldwide model for our world wealth and asset administration section, we serve people, establishments and retirement plan members worldwide. On the finish of 2020, we had greater than 37,000 staff, over 118,000 brokers, and hundreds of distribution companions, serving over 30 million prospects. As of September 30, 2021, we had CAD$1.4 trillion (US$1.1 trillion) in belongings beneath administration and administration, and within the earlier 12 months we made CAD$31.6 billion in funds to our prospects. Our principal operations are in Asia and Canada, and the USA, the place we’ve served prospects for greater than 155 years. We commerce as ‘MFC’ on the Toronto, New York, and the Philippine inventory exchanges and beneath ‘945’ in Hong Kong. Not all choices can be found in all jurisdictions. For extra info, please go to manulife.com.
This press launch isn’t a suggestion of securities on the market or a solicitation of a suggestion to buy securities. The data on this press launch could not comprise, and it’s possible you’ll not depend on this press launch as offering, all materials info in regards to the situation (monetary or different), earnings, enterprise affairs, enterprise prospects, properties or outcomes of operations of GLP or its subsidiaries. This launch could comprise forward-looking statements that contain dangers and uncertainties. Ahead-looking statements embody statements relating to the intent, perception and present expectations of GLP or its officers with respect to varied issues. When used on this press launch, the phrases “expects,” “believes,” “anticipates,” “plans,” “could,” “will,” “ought to,” “intends,““foresees,“ “estimates,“ “initiatives,“ and comparable expressions, and the negatives thereof, are meant to determine forward-looking statements. Equally, statements that describe goals, plans or targets are also forward-looking statements. Precise future efficiency, outcomes and outcomes could differ materially from these expressed in forward-looking statements on account of quite a few dangers, uncertainties and assumptions. Consultant examples of those components embody (with out limitation) normal trade and financial circumstances, rate of interest developments, value of capital and capital availability, availability of actual property properties, competitors from different firms and venues for the sale/distribution of products and companies, shifts in buyer calls for, prospects and companions, modifications in working bills, together with worker wages, advantages and coaching, governmental and public coverage modifications, and the continued availability of financing within the quantities and the phrases essential to help future enterprise. You’re cautioned to not place undue reliance on these forward-looking statements, that are based mostly on the present view of administration on future occasions and converse solely as of the date of this press launch. GLP doesn’t undertake to revise forward-looking statements to mirror future occasions or circumstances. No assurance could be provided that future occasions will happen, that projections will likely be achieved, or that GLP’s assumptions are appropriate.
The issuer is solely chargeable for the content material of this announcement.