glp capital partners

As an organization, we have a responsibility to act thoughtfully and sustainably for all of our customers, shareholders, employees and communities. Private Equity GLP's strategy is to make private equity investments in businesses and technologies that complement our core logistics real estate business and other high-growth sectors of the economy. It's zoned for industrial development and can be developed into 500,000 square feet of commercial space. Sean Geary: Good morning. Our ability to attract top talent and focus on developing their skills supports our global growth and helps the company expand beyond what it is today. The Consumers Petroleum acquisition deepened our footprint in the New England region, while the Miller Oil and Tidewater deals expanded our reach into Virginia. The company announced the . As a group, equities analysts expect that Global Partners LP will post 3.2 earnings per share for the current fiscal year. Caution and uncertainty are the popular themes. GLP Capital Partners (GCP) is a registered investment adviser with over $5 billion in assets under management (AUM). On the EV front, our sustainability group welcomed and electric innovation strategist to evaluate, educate and guide our strategy in the electric space, including electric vehicle and charger market. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. The adviser's REGISTRATION status is listed below. To help us understand those needs and envision the fueling infrastructure of the future, we sponsored Fuel of the Future 2030, a student design competition engaging more than 30 teams of undergraduate and graduate students attending schools across nine states. We continue to have ample excess capacity in our credit facility. This is a profile preview from the PitchBook Platform. Crude oil product margin improved to a negative $9.4 million, up $3.4 million from a year earlier. As of December 31, 2022, total borrowings outstanding under the credit agreement were $252.4 million. Global Partners undertakes no obligation to revise or update any forward-looking statements. He is also an investor and board member of Value Retail China, a company that specializes in the development and operation of luxury outlet shopping villages. Turning to our segment details. Director, Deal Advisory, Infrastructure Advisory at KPMG US, I'm excited to announceARCO/Murray's 4th annual Women in Construction event. It is the largest fleet management platform in Asia and provides IoT and AI-enabled fleet management and other services to empower logistics companies. Want to see what other hedge funds are holding GLP? Growth Strategy with GLP Group Leveraging GLP Group's expertise in managing logistics facilities to the greatest extent possible, GLP J-REIT will work to maximize unitholder value through our best-in-class (highest level) asset management, which is esteemed in Japan and around the world. GLPs strategic investment partnership with CMC expands our investment scope further into infrastructure, finance and private equity and enables both partners to leverage each others network of domestic and international investors to collaborate on the development of new funds. Now it's my pleasure to turn the call over to our President and Chief Executive Officer, Eric Slifka. You can update your choices at any time in your settings. This consists of $153.4 million under our $1.1 billion working capital revolving credit facility and $99 million under our $450 million revolving credit facility at 12/31/22. Private Capital Chugged Along Better Than Institutional Money Last Year, A Closer Look at H2s Investment Sales Drubbing, Calgary Startup Offers Wholesale Renewable Power to Homeowners, Unlimited access to GlobeSt and other free ALM publications, Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications, 1 free article* every 30 days across the ALM subscription network, Exclusive discounts on ALM events and publications. Copyright 2020 GLP. The energy company reported $1.54 earnings per share (EPS) for the quarter, beating analysts consensus estimates of $1.40 by $0.14. Tower Research Capital LLC TRC Raises Stock Holdings in Innoviva, Inc. (NASDAQ:INVA), Tower Research Capital LLC TRC Trims Holdings in SPDR S&P Pharmaceuticals ETF (NYSEARCA:XPH), Get a free copy of the StockNews.com research report on Global Partners (GLP), Hormel Hits 2-Year Low, And The Dip Gets Bought, Heres Why Ross Could Soon Be Hitting All Time Highs. Catherine is a highly experienced active portfolio manager with a career spanning more than 25 years. GLP Capital Partners CEO Alan Yang and Modlo Logistics Center (GLP) As demand outpaces supply in South Florida's industrial market, GLP Capital . Operator? 27-Jul-2022 BBB- Review - No Action Long Term Rating Rating History. GLP Pte Ltd (formerly Global Logistic Properties Limited) converted to a private company after delisting from the Singapore Exchange Securities Trading Limited (SGX-ST) on 22 January 2018. Luxembourg Alter Domus 2 ans 9 mois . GLP Capital Partners is a leading global investment manager with a focus on modern logistics facilities and logistics-related operating companies. Global Partners (NYSE:GLP Get Rating) last issued its quarterly earnings data on Monday, February 27th. The transaction is expected to close in the first half of 2023, subject to customary closing conditions, including regulatory approval. Mar 2023 - Present1 month. These current estimates depend in part on the timing of completion of projects, availability of equipment and workforce, weather and unanticipated events or opportunities requiring additional maintenance or investments. Net income was $57.5 million for the fourth quarter of 2022 compared with $19.3 . GLP Capital Partners, a global alternative asset manager with approximately $125 billion in assets under management as of 31 December 2022, is the exclusive investment and asset manager of GLP. GLP is the largest shareholder of GLP Capital Partners. Brookfield Property Partners. GLP Capital Partners has raised $2.3 billion for its logistics property fund, exceeding its goal in a sector that gained strength throughout the pandemic and remains hot. GLP is owned by GLP Holdings LP which is controlled by management and a group of institutional investors. The company has a debt-to-equity ratio of 1.61, a quick ratio of 0.69 . Our team successfully navigated through these challenges. 332 followers 329 connections. As part of our work in the clean fuel space, we formed an interdisciplinary team to research and evaluate hydrogen mobility supply and distribution opportunities. Chief Operating Officer at GLP Capital Partners Englewood, Colorado, United States 1K followers 500+ connections Join to connect GLP Capital Partners (GCP) Activity Congratulations Karolina. StockNews.com lowered Global Partners from a strong-buy rating to a buy rating in a report on Tuesday. With all of the SEC rule proposals, the expansion of the proxy voting regime flew under the radar a bit. I lead the legal strategy on major transactions and coordinate our dedicated team of external counsel. Monoful is the business development arm of GLP Japan. GLP Capital Partners (GCP) is planning to raise $2bn (1.6bn) for its value-add US industrial fund GLP Capital Partners IV, according to sources. In 2022, we made great strides in defining our role in the energy transition from actively crafting clean fuels policy to investing in the infrastructure to deliver low-carbon solutions to creating mechanisms for people to lead with ingenuity; we are making progress on our sustainability journey. Product margin from crude oil was negative $2.7 million for the fourth quarter, down $0.5 million from a year earlier. Annaly Capital Management. GLP's global platform owns and operates assets and businesses in 17 countries including Brazil, China, Europe, India, Japan, the US and Vietnam. To explore GLP Capital Partners IVs full profile, request access. 304917 Latest Filing 26 Aug 2022 SEC No. SG&A expenses increased $23 million in the fourth quarter to $80.8 million. Several analysts have weighed in on GLP shares. GLP Capital Partners announces new structure as dedicated global alternative asset manager focused on investing in high-growth, new economy sectors - GLP Capital Partners Although gasoline and diesel prices ended the fourth quarter at almost the same place they began the quarter, inter-quarter price volatility allowed for periods of strong margin capture. 10x harder to hold good investments, Managing Director, Head of GC&SEA&Australia, We are thrilled to collaborate with Crow Holdings, a US-based real estate investment manager. AvalonBay Communities. Overnight on Wall Street is daytime in Asia. Strategic Partners GLP forms strategic investment partnerships with companies that can bring about more opportunities and synergies with our core logistics real estate business globally and expand our investment scope further into adjacent segments. This information is available in the PitchBook Platform. With us from Global Partners are President and Chief Executive Officer, Mr. Eric Slifka; Chief Financial Officer, Mr. Gregory Hanson; Chief Operating Officer, Mr. Mark Romaine; and Chief Legal Officer, Mr. Sean Geary. Strong compliance background with experience in complex investor due diligence and familiar with the FCA handbook. GLP China has signed an agreement with Contemporary Amperex Technology Ltd. (CATL), the worlds leading battery provider and the largest maker of electric vehicle (EV) batteries, to create a new platform aimed at expanding the use of new energy through asset-as-a-service offerings and advancing sustainability in logistics and transportation. Global Partners LP (NYSE: GLP) Q4 2022 Earnings Call Transcript February 27, 2023. SEC / JURISDICTION. Interest expense was $19.7 million in the fourth quarter in both 2022 and 2021. The segment's performance for both periods was driven largely by an increase in bunkering activity. Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Partners LP (NYSE:GLP Get Rating). It provides software as a service (SaaS) products for logistics and invests in tech companies that create value for customers through the logistics ecosystem in Japan. Crow Holdings Capital consists of a cycle-tested team with a long history of investing in its flagship value-add fund series and will provide LPs access to a diversified portfolio of assets across the industrial, multifamily, and specialty sectors. All Rights Reserved. In addition, in the fourth quarter, we incurred an expense of approximately $7.5 million in connection with an ongoing dispute between us and a landlord at certain of our sites, which we are currently disputing. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. Boston Properties. GLP Capital Partners is a global investment manager with a focus on modern logistics facilities and logistics-related operating companies. Many thanks to Emerge CM. These filings (on Form N-PX) aren't due until 2024, but the first reporting period starts on July 1, 2023. For the fourth quarter, our Wholesale segment product margin more than doubled from the same period in 2021 as market conditions and effective management of our inventories amid sustained backwardation in the distillates markets combined to drive strong margin capture. #GCP #GLP, Very exciting to be managingthis ETF! The companies it has invested in include Linklogis, Sygnum, Fenbeitong, Flowcast, Smart-Insight and more. All Rights Reserved. GLP reorganises global fund management platform to form GLP Capital Partners. Luxembourg, Luxembourg Financial Accountant GLP Capital Partners mai 2020 - oct. 2021 1 an 6 mois. We continue to manage our balance sheet prudently. When expanded it provides a list of search options that will switch the search inputs to match the current selection. How long this might continue is impossible to say at the moment. "Institutional investment manager" isn't really what it sounds like: the term comes from 13F filings and includes unregistered and/or non-U.S. managers and even some entities that don't consider themselves managers at all -- the terms includes entities that exercise "investment discretion" over U.S.-listed securities and related options and warrants with an aggregate value of at least USD 100 million. Goldman Sachs Group Inc. increased its position in shares of Global Partners by 42.2% during the second quarter. The ex-dividend date of this dividend was Tuesday, February 7th. At this time, I'd like to turn the call over to Mr. Geary for opening remarks. Operator: Good day, everyone, and welcome to the Global Partners . | Learn more about Melissa Ava Marshall MCIPD's . In December, we entered into a purchase agreement with Gulf Oil Limited partnership to acquire five of Gulf's refined product terminals for approximately $273 million in cash. Any material comments concerning future results of operations will be communicated through news releases, publicly announced conference calls or other means that will constitute public disclosure for the purposes of Regulation FD. GLP Capital Partners IV is a real estate value added fund managed by GCP. As Eric noted, diligent planning, effective fuel inventory management and solid execution by the entire team, allowed us to have continued strong performance in the fourth quarter of 2022, closing out a very strong year for the Partnership, highlighted by healthy margin contributions from all three segments of our business. GLP Capital Partners was founded in 2019 and is based in Santa Monica, California. The distribution was paid on February 14 to unitholders of record as of the close of business on February 8. GLP Capital Partners LP operates as an investment management company. Where is GLP located? Global Partnerss dividend payout ratio is 25.32%. For the full year, DCF was $413.4 million compared with $120.7 million in '21. We believe in empowering people to be entrepreneurial, growth-focused and passionate about being the best. GLP Capital Partners maintains strong fundraising momentum across strategies in 2022 - GLP Capital Partners Fuel margins increased $0.07 per gallon to $0.37 from $0.30 per gallon in the fourth quarter of 2021. This represents a $6.29 annualized dividend and a dividend yield of 17.97%. Leverage, which is defined in our credit agreement as funded debt-to-EBITDA was approximately 1.74x at the end of the fourth quarter. Pacific Biosciences of California, Inc. (NASDAQ:PACB) Shares Sold by Shell Asset Management Co. Algoma Steel Group Inc. (NASDAQ:ASTL) Shares Sold by Shell Asset Management Co. New Gold Inc. (NYSEAMERICAN:NGD) Shares Sold by Shell Asset Management Co. 13 min read. Consistent with our focus on strategic transactions that strengthen our long-term earnings power, during the year, we closed on over $255 million of retail acquisitions. This reflected an increase in activity at our convenience stores in part due to our recent acquisitions. Sign in or Register Sign in / Register Database LP search GP search Finally, UBS Group AG increased its holdings in Global Partners by 328.0% in the second quarter. Learn more in our Cookie Policy. Which One is Best? The Los Angeles-based manager said the GLP Capital Partners IV fund exceeded its $2bn targetat final close. Los Angeles-based GCP was established in 2019 by the team that is responsible for the largest private real estate transaction in history. Eric Slifka: Thank you, Greg. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. The increases for the quarter and full year of 2022 were primarily driven by our Wholesale and GDSO segments. http://ow.ly/x8QN50MJ7X4 Headquarters Location 100 Wilshire Blvd. GLP is a leading global business builder, owner, developer and operator of logistics real estate, data centers, renewable energy and related technologies. We are thrilled to have learned from the creativity of these bright minds. Posted by MarketBeat News on Mar 3rd, 2023. GLP Capital Partners is a global investment manager with a focus on modern logistics facilities and logistics-related operating companies. 77 % of GDP 55 % of global population 66 Offices 17 Countries The History of GLP Frequently Asked Questions Is GLP a private company? 801-117132 Form of Organization Corporation Legal Domicile DE, United States Registration SEC Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. Global Partners (NYSE:GLP - Get Rating) posted its earnings results on Monday. GCP also invests in logistics technology companies from seed to growth equity stages. See also 10 Most Promising Psychedelic Stocks and 12 Best Affordable Dividend Stocks to Buy. Bloomberg Daybreak, anchored from New York, Boston, Washington DC and San Francisco provides listeners with everything they need to know. I manage the legals on acquisitions, dispositions . Solartility platform leases panels, storage batteries and bi-directional meters. Get the full list, Morningstar Institutional Equity Research, Co-Founder, Chief Executive Officer and Senior Managing Director. The JVwill explore a range of opportunities including creating smart energy systems for commercial properties, providing renewable energy to logistics assets and expanding energy storage capabilities for rooftop solar panels and also test the viability of autonomous vehicles in logistics management and transportation to develop green smart supply chain hubs. GCP is focused on uncovering advantaged opportunities in logistics real. Sustainability is a strategic priority across GLPs global business, and we are deeply committed to building a better future for our employees, customers and local communities. For the full year, Commercial segment product margin increased $25.4 million to $41 million. GLP Capital Partners LP - Company Profile and News - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Technology The only daily news program focused exclusively on technology, innovation and. We believe in empowering people to be entrepreneurial, growth-focused and passionate about being the best. GCP: Versatile strategy critical to deployment in US logistics Having a flexible deployment strategy and an enhanced focus on operations and asset management helps investors navigate an increasingly competitive market, say GLP Capital Partners' Adam Berns and Steve Crowe. As General Counsel & Chief Administrative Officer I sit on the GLP Europe management team and am responsible for all legal, compliance, regulatory, risk management and governance matters in Europe, as well as Marketing & Communications. Sep 2022 - Present7 months. Global Partners LP has a 52-week low of $20.23 and a 52-week high of $39.24. Next week, Mark and I will be participating in the JPMorgan 2023 Global High Yield and Leverage Finance Conference. These statements include projections, expectations and estimates concerning the future financial and operational performance of Global Partners, which are based on assumptions regarding market conditions, demand for liquid energy products and convenience store products, the regulatory and permitting environment, the forward product pricing curve and other factors, which could influence our financial results. We believe these assumptions are reasonable given currently available information. The fund was oversubscribed at its hard-cap at $1.5 billion, thus making it the the largest self-storage vehicle ever raised. Shell Asset Management Co. Cuts Stock Holdings in Harsco Co. (NYSE:HSC), Shell Asset Management Co. Sells 1,449 Shares of Redwood Trust, Inc. (NYSE:RWT). The firm owned 11,530 shares of the energy companys stock after selling 2,514 shares during the period. 2023 PitchBook. All rights reserved. All Rights Reserved. The increases were largely associated with our GDSO operations, including our recent acquisitions, reflecting higher credit card fees related to increases in volume and price, higher salary and rent expenses, partially due to greater activity at our stores and increases in our environmental reserve and maintenance and repair expenses. 12 Best Affordable Dividend Stocks to Buy, Stay Informed: Jerome Powells Policy Report & Important Economic Data, What cautious spending means for the US economy: YF Explains, 3 top tips for investors trying to weather the current economic storm: Strategist, UPDATE 1-UK says Ukraine forces under increasingly severe pressure defending Bakhmut, Ukraine Latest: Russian Defense Chief Makes Rare Visit to Troops. By Francisco Alvarado. Gregory Hanson: Thank you, Eric, and good morning, everyone. Operating expenses increased $25.2 million to $118 million for the fourth quarter and $91.7 million to $445.3 million for the full year. Goldman Sachs Group Inc. now owns 193,521 shares of the energy companys stock worth $4,548,000 after acquiring an additional 57,422 shares during the last quarter. Boardwalk Real Estate Investment Trust. Building on this objective, this year, we published our inaugural Corporate Social Responsibility Report, which details the progress we have made along that journey. Ming Mei is co-Founder and CEO of GLP. GLP Capital Partners, a global alternative asset manager with approximately $125 billion in assets under management, is the exclusive investment and asset manager of GLP. As an early mover who saw the potential in building a smart logistics ecosystem ahead of its time, Hidden Hill Capital has, since 2018, invested RMB 6 billion in more than 50 companies in the fields of digital supply chain and logistics technology such as modern logistics service systems and food supply chains. Our European platform is built on more than 30 years of experience in logistics real estate and operates in 12 countries across the continent, covering all major logistics markets. Our combined investing and operating expertise allows us to create value for our customers and investors. CapEx in the fourth quarter of 2022 was approximately $41 million, consisting of $26.6 million of maintenance CapEx and $14.4 million of expansion CapEx, the majority of which relates to our convenience stores. The energy . GLP was founded by Ming Mei and Jeff Schwartz as a developer and operator of logistics real estatewith operations in Japan and China, Listed on the Singapore Stock Exchange in the largest ever real estate IPO globally, Entered Brazil market as market leader with acquisition of $1.45B platform, Listed $1.3B GLP J-REIT (TSE: 3281) on Tokyo Stock Exchange - the largest real estate IPO in Japan, AUM grows to $11B with launch of first development fund in China and expansion of development vehicle in Japan, Enter the U.S. through the $8B acquisition of IndCorfrom Blackstone and becomes second largest logistics real estate owner in the U.S. within 12 months, Entered Europe market through the $2.8B acquisition of Gazeley and doubled Europe AUM within a year, GLP delists from SGX in $12B transaction, the largest of a listed company in Asia, GLP enters India via strategic partnership with IndoSpace, GLP sells 179M sq ft of U.S. assets to Blackstone for $18.7B, the largest-ever private real estate transaction globally, AUM grows to $89B following announcement of strategic investment partnership with China Merchants Capital, Global business expands to 17countries following acquisition of European portfolioand entry into Vietnam, Private equity business acquiresstake in Li & Fung, GLP C-REIT (508056:CH) is among the first batch of nine C-REITs to be listed in China. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. Pallas Capital Advisors LLC lifted its stake in shares of Global Partners by 2.7% during the third quarter. Copyright 2020 GLP. Follow Bloomberg reporters as they uncover some of the biggest financial crimes of the modern era. Bank of America Corp DE increased its position in shares of Global Partners by 20.6% during the first quarter. The fund is based in Santa Monica, California and invests in North America. #partnership#privateequity#fundraising. Your article was successfully shared with the contacts you provided. GLP is a privately owned company incorporated in Singapore. Already have an account? #1400 In our gasoline distribution and GDSO segment, we continued to benefit from higher retail fuel margins and increased activity in our convenience markets in part as a result of our recent acquisitions. 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