Abu Dhabi Investment Authority (ADIA) is investing up to $1.5bn (€1.3bn) in global logistics and data centre investment manager GLP to support its growth.
The first portion of the investment, which is being committed through the Abu Dhabi sovereign fund’s subsidiary, will be $500m.
The capital injection is expected to accelerate GLP’s strategy to create large-scale platforms across logistics, digital infrastructure and renewable energy.
The investment from ADIA builds on several years of successful collaboration between the two companies, GLP said.
Mohamed Al Qubaisi, executive director of the real estate department at ADIA, said: “We have successfully invested in GLP funds for a number of years. This transaction will allow us to deepen that relationship, support the company in its next phase of growth and scale our exposure to new economy sectors, in line with our strategy.”
Ming Mei, co-founder and CEO of GLP, said: ”With this enhanced capital base and strategic alignment, this investment further positions us to accelerate growth and take advantage of the significant market opportunities we see associated with the secular expansion of new economy sectors in which we operate.”
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