(Yicai) Aug. 28 -- GLP, a Singapore-based logistics and data infrastructure firm with strong operations in China, has received a USD1.5 billion investment from a unit of the Abu Dhabi Investment Authority (ADIA) to support its expansion in data centers and renewables.

The first tranche, totaling USD500 million, will bolster GLP’s financial position and accelerate the growth of its new economy business, the company announced today.

Founded in 2009, GLP operates globally in logistics real estate, and has expanded into digital infrastructure and renewable energy in recent years. The latest collaboration deepens the pair's partnership since ADIA has invested in GLP-managed funds for many years. GLP, through its asset management arm GLP Capital, reportedly oversees around USD80 billion in assets.

“The new economy sectors that GLP focuses on are entering a period of long-term expansion, which presents significant market opportunities,” said Mei Zhiming, GLP’s co-founder and chief executive officer. “This round of investment brings greater financial strength and strategic alignment, which will help GLP seize new opportunities and accelerate its development.”

The new investment will deepen the two firms' partnership, supporting GLP at the corporate level to reach new heights and achieve new growth, said Mohamed Al Qubaisi, executive director of real estate investments at ADIA. He noted the deal aligns with ADIA’s strategy to increase its exposure to the new economy sector.

GLP has been expanding its data center and renewable energy footprint in China. As of the end of last year, GLP China operated 14 data centers, with smart computing revenue growing by 54 percent year over year, according to public information.

In logistics and industrial infrastructure, GLP China delivered more than 2.6 million square meters of new space in 2024. The total area of new and renewed leases reached 29 million square meters, a 12 percent increase from a year earlier.

In renewable energy, GLP China added nearly one gigawatt of new projects last year, bringing its total developments to exceed 2 GW.

Editor: Emmi Laine