GLP Capital Partners Limited (GCP), a unit of the global logistics heavyweight GLP, has restructured its business to focus on investments in real assets and private equity.
The rebranded entity will bet on new economy real estate segments such as logistics, data centres, renewable energy and related technologies, according to a company statement on Wednesday.
GCP has seen its total AUM increase at a 26% compound annual growth rate since 2011 to approximately $125 billion today across real assets and private equity.
GCP was formed in 2011 when GLP reorganised and transferred its global fund management business to GCP. At the same time, GCP also combined with GLP Capital Partners LP, a US-based investment advisor. These transactions resulted in the formation of GCP as a separate entity and a pure-play global alternative asset manager.
GCP is currently the largest Asia-based fund manager for real estate and the world’s fourth largest.
The firm also announced that GLP co-founder and CEO Ming Mei has assumed the role of executive chairman of GCP and will continue to head the group as CEO. Alan Yang, who most recently served as chief executive officer of GLPCP, and previously as chief investment officer of GLP, has been appointed as chief executive officer of GCP.
Mei and Yang will sit among its executive management committee and board of directors.
“Our new structure puts us in a position to grow GCP into one of the only truly global alternative asset managers with both a leading presence in Asia and a track record of scale and success in the US, Brazil and Europe,” Yang said, in the company statement.
Mei said, “under this new structure, with GCP and GLP working side-by-side, GLP is strategically positioned to continue to identify, build and scale businesses in sectors that we believe are transforming the global economy.
As of 31 December 2022, GCP manages 46 funds with investments across the world and has approximately 550 employees, including more than 200 investment professionals stationed in 31 global locations in nine countries.