This documentary-style series follows investigative journalists as they uncover the truth. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. As of December 31, 2022, total borrowings outstanding under the credit agreement were $252.4 million. We are excited to work together on their flagship strategy! Leverage, which is defined in our credit agreement as funded debt-to-EBITDA was approximately 1.74x at the end of the fourth quarter. 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. Global Partners (NYSE:GLP - Get Rating) posted its earnings results on Monday. The retail fuel M&A pipeline remains very active and we continue to evaluate potential opportunities that align with our financial and operating objectives. 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. I manage the legals on acquisitions, dispositions . Boston Properties. #ABS #CLOs #HighYield, Principal and Director of Research at Buckingham Family of Financial Services, IMO the greatest anomaly in finance is despite horrific performance hedge fund assets have grown about 15x over past 30 years. Why do investors keep destroying wealth? Operator: Good day, everyone, and welcome to the Global Partners Fourth Quarter 2022 Financial Results Conference Call. Exclusive discounts on ALM and GlobeSt events. Copyright 2020 GLP. Gasoline and gasoline blendstock product margin contributed $14 million, down $9.9 million from the same period in 2021. All Rights Reserved. For the full year, GDSO product margin was up $209 million to $856.6 million, with fuel margins increasing $0.09 per gallon to $0.36 from $0.27 per gallon in the year-earlier period. 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. *May exclude premium content 10x easier to research good investments MetLife Investment Management LLC Buys 2,282 Shares of Wabash National Co. MetLife Investment Management LLC Boosts Stake in MannKind Co. MetLife Investment Management LLC Boosts Holdings in 23andMe Holding Co. MetLife Investment Management LLC Raises Stock Holdings in TG Therapeutics, Inc. Cantor Fitzgerald Analysts Decrease Earnings Estimates for Chinook Therapeutics, Inc. (NASDAQ:KDNY), 61,368 Shares in Zeta Global Holdings Corp. (NASDAQ:ZETA) Purchased by MetLife Investment Management LLC, MetLife Investment Management LLC Buys 2,282 Shares of Wabash National Co. (NYSE:WNC), MetLife Investment Management LLC Boosts Stake in MannKind Co. (NASDAQ:MNKD), MetLife Investment Management LLC Boosts Holdings in 23andMe Holding Co. (NASDAQ:ME), MetLife Investment Management LLC Raises Stock Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX), MetLife Investment Management LLC Has $414,000 Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL), MetLife Investment Management LLC Raises Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), MetLife Investment Management LLC Purchases 7,570 Shares of Armada Hoffler Properties, Inc. (NYSE:AHH), MetLife Investment Management LLC Has $418,000 Holdings in Morphic Holding, Inc. (NASDAQ:MORF), UMH Properties, Inc. (NYSE:UMH) Shares Acquired by MetLife Investment Management LLC, Shell Asset Management Co. Sells 316 Shares of Howmet Aerospace Inc. (NYSE:HWM). GLP has announced a substantial plan to enter the Japan data center market, with a target of investing more than $12 billion over the next five years to build out 900 MW of power capacity. To explore GLP Capital Partners IVs full profile, request access. 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. The firm had revenue of $4.43 billion during the quarter, compared to analysts expectations of $4.51 billion. Our sites are strategically located along the "dorsale" logistics corridor and offer customers access to United Kingdom's biggest population centers and sea ports. Covering Brazil, Vietnam & PE funds. You can update your choices at any time in your settings. All Rights Reserved. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. "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. This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. Product margin from other oils and related products, which include distillates and residual oil, was up $48.5 million to $59.4 million, primarily due to more favorable market conditions in distillates. Watch below as Catherine discusses the Emerge EMPWR program as a stepping stone for other women in the industry.This program will be a role model for future female portfolio managers. Global Partners undertakes no obligation to revise or update any forward-looking statements. The value-add fund will invest into the logistics sector. Global Partners ( NYSE:GLP - Get Rating) last issued its quarterly earnings data on Monday, February 27th. GLP Capital Partners is a global investment manager with a focus on modern logistics facilities and logistics-related operating companies. From incubating new businesses to efficiently operating assets, we take a strategic and innovative approach to growth and value creation. Product margin from crude oil was negative $2.7 million for the fourth quarter, down $0.5 million from a year earlier. We believe in empowering people to be entrepreneurial, growth-focused and passionate about being the best. Our #pwcrealestate Tax Service News summarizes the new legislation and gives an update of the currently applicable RETT rates at chrome-extension://efaidnbmnnnibpcajpcglclefindmkaj/https://lnkd.in/eNUEvkYH, Chief Human Resources Officer at GLP Capital Partners (GCP), Thrilled indeed! Pallas Capital Advisors LLC lifted its stake in shares of Global Partners by 2.7% during the third quarter. Brandywine Realty Trust. All Rights Reserved. Issuer: GLP Capital, L.P. Debt Level: senior unsecured Issue: USD 975 mln 5.375% bond/note 28-Apr-2026. Several analysts have weighed in on GLP shares. Interest expense was $19.7 million in the fourth quarter in both 2022 and 2021. At over $2.3 billion the fund, GLP . Today's call is being recorded. Several other hedge funds have also made changes to their positions in GLP. Neil Everitt Branded Consumer Products and Services Find Out More Ronald Gidwitz Net income was $57.5 million for the fourth quarter of 2022 compared with $19.3 . With that, now let me turn the call over to Greg for his financial review. In the renewable fuels area, we permitted and completed the installation of customizable biofuel systems at four of our terminals and began biofuel supply projects at two additional facilities. REGISTRATION STATUS. We are thrilled to announce our new structure as a dedicated global alternative asset manager focused on investing in high-growth, new economy sectors. To date, the group has secured more than $800,000 in grants to deploy DCFC EV charging stations at six of our locations and has developed a spec for DCFC stations at new Alltown Fresh locations. This report is available on our website, and I encourage you to review it. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. 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. Retailers faced a wide range of challenges in 2022. Purchased by MetLife Investment Management LLC. For the full year, adjusted EBITDA was $485.2 million compared with $244.3 million in the same period of 2021. Fund name: GLP Capital Partners IV Fund size: $2.3 billion Target size: $2 billion Launch date: June 2020 Current status: Final close, July 2021 GLP Capital Partners has held a final close on their fourth flagship fund, the GLP Capital Partners IV.Successfully raising more than $2.3 billion, the vehicle will invest in logistics real estate throughout the US. He received his Bachelor of Science in Finance from Indiana University School of Business. 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. From incubating new businesses to efficiently operating assets, we take a strategic and innovative approach to growth and value creation. Operator: Good day, everyone, and welcome to the Global Partners . Bank of America Corp DE now owns 90,092 shares of the energy companys stock worth $2,457,000 after acquiring an additional 15,360 shares during the last quarter. GLP was founded in 2009 as a specialist logistics real estate owner, developer and operator. 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. Looking at our upcoming Investor Relations calendar. | Learn more about Melissa Ava Marshall MCIPD's . Our team successfully navigated through these challenges. We also continue to focus on optimizing our terminal network. Copyright 2020 GLP. GLP Capital Partners of GCP has closed what it says is the largest discretionary closed-end fund focused on North American logistics real estate ever raised. Markets never sleep, and neither does Bloomberg. Los Angeles, CA Prologis 3 years 7 months Investment Director Prologis Nov 2020 - Oct . Net income was $57.5 million for the fourth quarter of 2022 compared with $19.3 million for the same period in 2021. GLP Capital Partners has $1.5 billion to spend on North American self-storage properties after holding final closing of its GCP SecureSpace Property Partners fund. Product margin in the fourth quarter increased $5.1 million year-over-year to $9.9 million. Monoful is the business development arm of GLP Japan. The Los Angeles City Employees' Retirement System (LACERS) disclosed in a meeting document that it has approved a $40m commitment to the fund. DCF was $57.3 million for the fourth quarter of 2022 compared with $30.5 million in the same period of '21. This button displays the currently selected search type. The top 5 finals presented their entries and an awards presentation in November. How long this might continue is impossible to say at the moment. Angel, Fund of Funds, Venture Capital), General contact email for the organization. Hong Kong SAR. Many thanks to Emerge CM. GLP is the largest shareholder of GLP Capital Partners. UBS Group AG now owns 70,415 shares of the energy companys stock valued at $1,655,000 after buying an additional 53,964 shares during the last quarter. TTM distribution coverage as of December 31, 2022, including the onetime special distribution was 3.4x or 3.3x after factoring in distributions to our preferred unitholders. Its Time For A Fresh Look At The Kroger Co. West Frasers Earnings Scream Timber, Outlook Says Buy, MarketBeat.com's FREE daily email newsletter. The Los Angeles-based manager said the GLP Capital Partners IV fund exceeded its $2bn targetat final close. Very excited to be on this journey with GCP! Singapore. 2023 PitchBook. SEC / JURISDICTION. GLP Capital Partners ("GCP") is a US-based real estate investment manager with fully integrated operating platforms focused on logistics real estate and adjacent asset classes. The business also recently declared a quarterly dividend, which was paid on Tuesday, February 14th. GCP is a vertically integrated investment manager with a dedicated focus on logistics, supply chain, and storage real estate. GLP Capital Partners was founded in 2019 and is based in Santa Monica, California. Bank of America Corp DE increased its position in shares of Global Partners by 20.6% during the first quarter. 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. Watch our brand video In addition to the power of our people, our company performance demonstrates the resilience of our business model, the strength of our assets and the value that we deliver for the guests at our gas stations and convenience markets and the customers at our liquid energy terminals every day. Santa Monica, California, United States 1-10 Venture Capital Early Stage Venture www.glpcp.com/ 10,144 Highlights Investments 6 Employee Profiles 5 Contacts 21 Similar Companies 5 Thank you for joining us. 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. Very nice, congratulations on your and GLP's success, Alan. Achieved total IT load capacity of ~1,400 MW in China. The companies it has invested in include Linklogis, Sygnum, Fenbeitong, Flowcast, Smart-Insight and more. See also 10 Most Promising Psychedelic Stocks and 12 Best Affordable Dividend Stocks to Buy. Delivered first phase of 120 MW data center in Jiangsu Province, China. By Francisco Alvarado. All content is posted anonymously by employees working at GL Capital Partners. People and culture are core to GLPs business and its global success. As an organization, we have a responsibility to act thoughtfully and sustainably for all of our customers, shareholders, employees and communities. GLP Capital Partners, led by Alan Yang, former chief investment officer of Singaporean. We are committed to a broad range of ESG initiatives that elevate our business, create value for our stakeholders, support our employees and show respect to our local communities. Asian industrial giant GLP on Tuesday unveiled GLP Capital Partners, a newly minted fund management business investing in sectors including Liked by Haijin Zeng Terry We are thrilled to announce our new structure as a dedicated global alternative asset manager focused on investing in high-growth, new economy Now it's my pleasure to turn the call over to our President and Chief Executive Officer, Eric Slifka.
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