IndoSpace and GLP Form Strategic Partnership
09.26.18
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The Firm represented IndoSpace in connection with the formation of a long-term strategic partnership with GLP, a leading global provider of modern logistics facilities and technology-led solutions. GLP will partner with IndoSpace and also co-invest in IndoSpace's managed investment vehicles. The partnership enables IndoSpace to leverage GLP's fund management, development and operational expertise and resources, as well as GLP's extensive global customer network, to further strengthen IndoSpace's leadership position in India.
Through this partnership, GLP will also become an investor in IndoSpace Core, a joint venture established in 2017 by IndoSpace and Canada Pension Plan Investment Board (CPPIB) that is focused on acquiring and developing modern logistics facilities in India. CPPIB initially committed approximately US$500 million to IndoSpace Core and owns a significant majority stake in the Core vehicle.
IndoSpace is the pioneer and largest provider of modern industrial and logistics real estate in India and currently has 30 industrial and logistics parks across India. It is promoted by the Everstone Group and Realterm. The Everstone Group is a premier India and South East Asia focused private equity and real estate firm. Realterm is a multi-strategy private equity real estate operator in North America.
The Simpson Thacher team included Anthony King, Jonathan Hwang and Jenny Qi (Real Estate); Meredith Jones and William Smolinski (Tax); and Adam Furber, Michael Ceulen and Zixuan Jiang (Funds).