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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. GLP Capital Partners serves institutions such as pension funds, sovereign wealth funds, and endowments worldwide. SG&A expenses increased $23 million in the fourth quarter to $80.8 million. Solartility platform leases panels, storage batteries and bi-directional meters. Goldman Sachs Group Inc. increased its position in shares of Global Partners by 42.2% during the second quarter. Our assumptions and future performance are subject to a wide range of business risks uncertainties and factors, which are described in our filings with the Securities and Exchange Commission, which could cause actual results to differ materially from the Partnership's historical experience and present expectations or projections. Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world. Eric Slifka: Thank you, Greg. Several other hedge funds have also made changes to their positions in GLP. 617-542-5300 GLP@investorrelations.com Global Partners LP engages in purchasing, selling, storing, and the logistics of transporting petroleum and related products. LinkedIn and 3rd parties use essential and non-essential cookies to provide, secure, analyze and improve our Services, and (except on the iOS app) to show you relevant ads (including professional and job ads) on and off LinkedIn. 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. This report is available on our website, and I encourage you to review it. Operator: Good day, everyone, and welcome to the Global Partners . 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. Copyright 2020 GLP. Bank of America Corp DE increased its position in shares of Global Partners by 20.6% during the first quarter. Tower Research Capital LLC TRC decreased its holdings in shares of Global Partners LP (NYSE:GLP Get Rating) by 17.9% during the 3rd quarter, Holdings Channel.com reports. All Rights Reserved. All Rights Reserved. #GCP #GLP, Very exciting to be managingthis ETF! Angel, Fund of Funds, Venture Capital), This describes the stage of investments made by this organization (e.g. We believe in empowering people to be entrepreneurial, growth-focused and passionate about being the best. When expanded it provides a list of search options that will switch the search inputs to match the current selection. The Earthshot Prize 2022 is a global prize designed to incentivize change and help to repair our planet by awarding five winners each year for their contributions to environmentalism. How is GLP related to GLP Capital Partners? Monoful is the business development arm of GLP Japan. Sign in or Register Sign in / Register Database LP search GP search Emerge is honoured to have Catherine as a sub-advisor on the Emerge EMPWR Platform! Selected profiles of other Operating Partners are also shown below. Property Logistics Specialist GLP Plans IPO for Investment Arm - WSJ News Corp is a global, diversified media and information services company focused on creating and distributing authoritative. 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. Global Robotics Services We are pleased to provide a new innovative platform for customers constantly seeking to improve the productivity of their logistics . The value-add fund will invest into the logistics sector. Now, Greg, Mark and I will be happy to take your questions. 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. Global Partners LP has a 1-year low of $20.23 and a 1-year high of $39.24. We are thrilled to have learned from the creativity of these bright minds. 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! Gregory Hanson: Thank you, Eric, and good morning, everyone. 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. 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. Please go ahead, sir. We have a great lineup of panelists who will share the knowledge they've gained throughout their careers. #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. Operating Partners Bespoke has over 75 Operating Partners who support the firm by assisting with opportunity identification, due diligence, building a value creation plan and investment oversight. Processes that used to be manual, such as dispatching, are now automated, allowing for much more precision and complexity, while predictive analytics and safety features mean fewer accidents. Our partner China Merchants Capital (CMC) ranked No.1 in Asia among the Private Equity International's (PEI) top 300 list. G7 currently serves more than 60,000 customers with more than 1.5 million connected vehicles in China and is committed to developing an open ecosystem that connects vehicles, logistic infrastructure and financial institutions. GDSO product margin was up $46.1 million in the quarter to $223.2 million. All rights reserved. The entity was formed on January 15, 2020 in the jurisdiction of Delaware. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. Partner at Holland & Knight LLP - West Coast Real Estate Deputy Practice Group Leader. Brandywine Realty Trust. Interest expense was $19.7 million in the fourth quarter in both 2022 and 2021. 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. Luxembourg Alter Domus 2 ans 9 mois . For full year 2022, interest expense increased $1.2 million to $81.3 million. The adviser's REGISTRATION status is listed below. 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. 2023 Could be Year Apartment Owners Compete for Renters, Beyond Population Shifts: Why Multifamilys Outlook Is Good, Cost of Capital Has CRE Projects Mostly Stalled. I lead the legal strategy on major transactions and coordinate our dedicated team of external counsel. The fund is based in Santa Monica, California and invests in North America. Thrilled indeed! 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. It operates through the following business segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. The Los Angeles City Employees' Retirement System (LACERS) disclosed in a meeting document that it has approved a $40m commitment to the fund. 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. GLP Capital Partners announces new structure as dedicated global alternative asset manager focused on investing in high-growth, new economy sectors - GLP Capital Partners People and culture are core to GLPs business and its global success. At over $2.3 billion the fund, GLP . 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. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. 13 min read. Copyright 2020 GLP. Stifel Nicolaus raised Global Partners from a hold rating to a buy rating in a research note on Monday, November 7th. Corporate Finance & Alternative Asset Investment. Watch our brand video Copyright 2020 GLP. Bloomberg Daybreak Asia. GLP is a leading global business builder, owner, developer and operator of logistics real estate, data centers, renewable energy and related technologies which are supported by global macroeconomic trends, including the sustained growth of globalised commerce, widespread adoption of e-commerce, increased demand for data storage/processing and worldwide focus on sustainable energy. 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. The firm owned 11,530 shares of the energy companys stock after selling 2,514 shares during the period. GLP Capital Partners (GCP) Jan 2022- Present1 year 2 months New York, New York, United States Investments Director of Investments GLP Capital Partners (GCP) Sep 2018- Dec 20213 years 4 months. Get the full list, To view GLP Capital Partners IVs complete team members history, request access, Youre viewing 5 of 428 funds. This represents a $6.29 annualized dividend and a dividend yield of 17.97%. From incubating new businesses to efficiently operating assets, we take a strategic and innovative approach to growth and value creation. Can it be just a desire to be a "member of the club?" For full year 2023, we expect maintenance capital expenditures in the range of $50 million to $60 million; and expansion capital expenditures, excluding acquisitions, in the range of $55 to $65 million, relating primarily to investments in our gasoline station business. 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. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. Caution and uncertainty are the popular themes. 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. We're excited to share the new GLP Capital Partners (GCP) and GLP structure. Navigating interest rate disruption: How real-time data can facilitate better CRE decisions amid volatility. Over the years, we have formed multiple partnerships with organizations around the globe to expand our capabilities in logistics, real estate, infrastructure, solar energy, finance, private equity, technology and more. With the purchases of Consumers Petroleum of Connecticut, Miller Oil Co. and Tidewater Convenience, we added more than 60 company-operated convenience markets and related fuel operations as well as fuel supply arrangements at more than 55 additional sites. Which One is Best? To continue reading the Q&A session, please click here. 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, led by Alan Yang, former chief investment officer of Singaporean. View contacts for GLP Capital Partners to access new leads and connect with decision-makers. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. Arlington Asset Investment. Gasoline and gasoline blendstock product margin increased $20.7 million to $107 million for the full year, primarily due to more favorable market conditions in gasoline during the second and third quarters of 2022. 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. Net income was $57.5 million for the fourth quarter of 2022 compared with $19.3 . I demystify finance | 50,000+ people read my free newsletter | Financial Educator | Author, Speaker, Creator, The internet has made it: GLP Capital Partners Inc. (Entity # 20201040294) is a Foreign Corporation in Santa Monica, California registered with the Colorado Department of State (CDOS). GLP Capital Partners is a global investment manager that focuses on logistics facilities and logistics-related operating companies. Win whats next. GLP Capital Partners was founded in 2019 and is based in Santa Monica, California. Cantor Fitzgerald Analysts Decrease Earnings Estimates for Chinook Therapeutics, Inc. 61,368 Shares in Zeta Global Holdings Corp. The below charts are illustrative of the type of graphical data available to our clients and do not represent live data. Our focus is on maintaining a small company identity with an entrepreneurial mindset to continue our growth trajectory. Los Angeles City Employees' Retirement System, Youre viewing 5 of 6 limited partners. Contacts Dafna Tapiero dtapiero@laurelstrategies.com 202-776-7776 GLP. GCP also invests in logistics technology companies from seed to growth equity stages. The Los Angeles-based manager said the GLP Capital Partners IV fund exceeded its $2bn targetat final close. Sign In Now, Blackstone REIT Keeps Bleeding Despite Infusion of Liquidity. Sovereign Investor Leadership Conference March 2023 Menu We encourage our people to think beyond the bounds of their roles and our industry by being innovative, sharing new ideas and working as a team. 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. GLP Capital Partners is the exclusive investment and asset manager of GLP. The company had revenue of $4.43 billion for the quarter, compared to the consensus estimate of $4.51 billion. Share Your Design Ideas, New JerseysMurphy Defends $10 Billion Rainy Day Fund as States Economy Slows, What Led to Europes Deadliest Train Crash in a Decade, This Week in Crypto: Ukraine War, Marathon Digital, FTX. The firm had revenue of $4.43 billion during the quarter, compared to analysts expectations of $4.51 billion. Catherine is the founder and CEO of Catherine Avery Investment Management and sub-advisor to the Emerge EMPWR Sustainable Dividend Equity ETF. With headquarters located around the world, we leverage our global and local market knowledge to create the most value for our investors and customers. Retailers faced a wide range of challenges in 2022. As we continue to invest in optimizing our sites with an eye towards sustainability, we know that the drivers of tomorrow will have different expectations and needs than the drivers of today. Ming co-founded Eastern Bell Venture Capital and sits on various public and private boards. Global Robotics Services We are pleased to provide a new innovative platform for customers constantly seeking to improve the productivity of their logistics . This is the GL Capital Partners company profile. Our team successfully navigated through these challenges. GLP is a leading global business builder, owner, developer and operator of logistics real estate, data centers, renewable energy and related technologies. 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. Exclusive discounts on ALM and GlobeSt events. What does this mean for CRE professionals? This documentary-style series follows investigative journalists as they uncover the truth. With that, now let me turn the call over to Greg for his financial review. We are thrilled to announce our new structure as a dedicated global alternative asset manager focused on investing in high-growth, new economy sectors. Global Fund Management, Capital Raising & Investor Relations. Fuel margins increased $0.07 per gallon to $0.37 from $0.30 per gallon in the fourth quarter of 2021. 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. Located in Connecticut, Maine, Massachusetts and New Jersey, the terminals have an aggregate storage capacity of approximately 3.9 million barrels in locations that complement our network by making us more competitive in multiple products over a larger geographic base. To explore GLP Capital Partners IVs full profile, request access. Singapore. He received his Bachelor of Science in Finance from Indiana University School of Business. 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. Delivered first phase of 120 MW data center in Jiangsu Province, China. 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. At over $2.3 billion the fund, GLP Capital Partners IV, exceeded its parents $2 billion target. Boardwalk Real Estate Investment Trust. Fund Management & Investment GLP Capital Partners is the exclusive fund manager and investment advisor of GLP, a leading global business builder, investor, developer and operator. 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 With all of the SEC rule proposals, the expansion of the proxy voting regime flew under the radar a bit. Under his leadership and vision, GLP revolutionized the modern logistics industry by taking an innovative and entrepreneurial approach to growth and value creation and has since expanded into adjacent sectors and new markets. The registered office location is at 100 Wilshire Boulevard, Suite 940, Santa Monica, CA 90401. 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. The Consumers Petroleum acquisition deepened our footprint in the New England region, while the Miller Oil and Tidewater deals expanded our reach into Virginia. Global Partners (NYSE:GLP Get Rating) last issued its quarterly earnings data on Monday, February 27th. 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. The current commercial real estate (CRE) landscape faces disruption from economic and geopolitical fallout. Want to see what other hedge funds are holding GLP? Purchased by MetLife Investment Management LLC. Neil Everitt Branded Consumer Products and Services Find Out More Ronald Gidwitz Product margin in the fourth quarter increased $5.1 million year-over-year to $9.9 million. Director, Deal Advisory, Infrastructure Advisory at KPMG US, I'm excited to announceARCO/Murray's 4th annual Women in Construction event. While macroeconomic uncertainty remains, we continue to focus on driving returns for unitholders through a combination of organic growth, strategic acquisitions, optimization and innovation. BNP Paribas Arbitrage SA increased its position in shares of Global Partners by 334.0% during the second quarter. Leverage, which is defined in our credit agreement as funded debt-to-EBITDA was approximately 1.74x at the end of the fourth quarter. 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. We also are focused in investing and partnering with companies where we can play a strategic role in building their business and invest in both established and growth-stage businesses across logistics, real estate, infrastructure, finance and related technologies. Following their record-breaking $18.7 billion sale of the GLP U.S. portfolio in 2019, the team launched GCP as an independent investment manager alongside Modlo, its wholly-owned logistics real estate company. Bitrock Capital is a fintech-focused venture capital firm backed by GLP. Who owns GLP? The Chicago event on Thursday, March 9th is open to all to support women in the construction and engineering fields! Is Global Partners LP (GLP) . 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. For the full year, Commercial segment product margin increased $25.4 million to $41 million. 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. Country: United States Sectors: Corporate Finance; Gaming, Lodging, and Leisure 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. Strategic HR generalist educated to masters level and experienced in supporting commercial businesses by delivering HR processes and tools. It is the largest fleet management platform in Asia and provides IoT and AI-enabled fleet management and other services to empower logistics companies. You can update your choices at any time in your settings. REGISTRATION STATUS. GLP Capital Partners Native Currency USD Fund Manager's Location 100 Wilshire Boulevard Suite 1400 Santa Monica, CA 90401 United States +1 (310) 000-0000 Fund Domiciles United States: Delaware Cayman Islands GLP Capital Partners IV Investment Strategy Investments by Industry Investments by Deal Type Want detailed data on 3M+ companies? The increases in the quarter and the full year were in part due to increases in accrued discretionary incentive compensation and wages and benefits. Sep 2022 - Present7 months. Today's call will include forward-looking statements within the meaning of Federal securities laws. 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.