GLP to Establish €2 Billion Partnership with CPPIB and QuadReal

• GLP CDP I will focus on developing modern logistics facilities in Continental Europe
• Strong customer demand in Europe -- Gazeley, GLP's Europe platform, signed record number of leases this year
• GLP CDP I will help capture significant growth opportunities in Europe, given GLP's first two European funds are fully allocated

LONDON, Nov. 19, 2018 /PRNewswire/ -- GLP, the leading global provider of modern logistics facilities and technology-led solutions, will partner with QuadReal Property Group ("QuadReal") and Canada Pension Plan Investment Board ("CPPIB"), through its wholly-owned subsidiary, CPP Investment Board Europe S.a.r.l., to establish GLP Continental Europe Development Partners I ("GLP CDP I"). The partners^[1] are contributing €1 billion (US$1.1 billion^[2]) in equity to GLP CDP I, which will focus on developing modern logistics facilities in Germany, France, Italy, Spain, Netherlands and Belgium. CPPIB will contribute €450 million (US$510 million) of equity to GLP CDP I.

GLP CDP I is expected to reach €2 billion (US$2.3 billion) of assets under management (AUM) when fully invested. GLP CDP I will help capture significant growth opportunities in Europe, given GLP's first two European funds are fully allocated.

Ming Mei, Co-Founder and CEO of GLP, said: "The proposed establishment of GLP CDP I reflects the confidence that institutional investors have in GLP and Gazeley, our Europe platform. We are committed to a long-term growth strategy in Europe. Demand from institutional investors to partner with GLP remains strong and we see opportunities to expand our fund management platform further."

Andrea Orlandi, Managing Director, Head of Real Estate Investments -- Europe, CPPIB, said: "This partnership deepens our longstanding relationship with GLP, one of our largest global partners and establishes a new relationship with QuadReal. GLP CDP I is a key part of our development-led growth strategy in the logistics sector globally, and will significantly enhance our existing holdings in Continental Europe. We expect GLP CDP I to grow quickly in scale and perform well over the long term given rising e-commerce sales and consumer demand for ever-shorter delivery times in Europe."