GLP picks 10% stake in Chinese real estate firm Vantone

GLP

Logistics major GLP has picked up a 10 per cent stake in Chinese real estate firm Vantone Holdings to further expand its business in China, according to a stock filing by Vantone on Wednesday.

Based on the disclosure, Shanghai-listed Vantone will sell 205 million A shares to GLP Capital Investment 4 (HK), a subsidiary of GLP, for 822 million yuan ($122.2 million). The deal will see GLP emerge as the third largest shareholder in Vantone.

Founded in 1993, Vantone operates real estate businesses across China and has net assets of 7.8 billion yuan ($1.16 billion) as of last June.

GLP has over $50 billion in assets under management. It was delisted from the Singapore Stock Exchange in January 2018 following an $11.6-billion privatisation deal led by a private equity consortium comprising Nesta Investment Holdings, a vehicle owned by Hopu, Hillhouse Capital, SMG, Bank of China Group Investment and Vanke.

Last May, it launched its debut private equity fund that is seeking to raise 10 billion yuan ($1.5 billion) to invest in the logistics ecosystem. The fund, Hidden Hill Modern Logistics Private Equity Fund, will be managed by its PE platform Hidden Hill Capital.

The fund has the backing of Chinese insurance companies including China Post Capital and other institutional investors.

Earlier in 2018, it also set up its first China value-add fund, GLP China Value-Add Venture I, with a total equity commitment of $1.6 billion. GLP claims to be the largest owner and operator of modern logistics facilities in China, with a 30 million square meter portfolio across 38 strategic submarkets. Its clientele in China includes BEST Inc., BMW, JD.com and LF Logistics.

Also Read:

Warehouse operator GLP sells five properties in Japan for $821m

Logistics major GLP announces launch of $1.6b debut PE fund

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.