ADIA to Invest Up to $1.5B in GLP as Ming Mei Continues to Cash Up

GLP has secured a capital commitment from the Abu Dhabi Investment Authority of up to $1.5 billion to support the next phase of growth at the Asian warehouse specialist.

Government-backed ADIA, an existing partner in GLP funds, will invest an initial $500 million in the Singapore-based firm to help speed creation of differentiated, scaled platforms across logistics, digital infrastructure and renewable energy, the companies said Thursday in a release.

“We are delighted to strengthen our relationship with ADIA in line with our strategy of creating scalable partnerships with world-class investment partners,” said GLP co-founder and CEO Ming Z Mei. “With this enhanced capital base and strategic alignment, this investment further positions us to accelerate growth and take advantage of the significant market opportunities we see associated with the secular expansion of new economy sectors in which we operate.”

The infusion comes as GLP continues to tap state-owned players for capital after the sale of its ex-China funds arm, announcing earlier this week that it had won an investment from the Zhejiang government to expand its China data centre business.

Structural Tailwinds

The companies framed ADIA’s investment as a bet on sectors positioned to benefit from the expansion of e-commerce, accelerating adoption of AI and cloud technologies, and the global shift towards cleaner and more sustainable energy sources.

The deal marks the Emirati giant’s first direct investment in GLP. After the initial deployment of $500 million, the rest of the capital will be invested in the coming months, a source told Reuters.

“We have successfully invested in GLP funds for a number of years,” said Mohamed Al Qubaisi, executive director of the real estate department at ADIA. “This transaction will allow us to deepen that relationship, support the company in its next phase of growth and scale our exposure to new economy sectors, in line with our strategy.”

In March, GLP completed the sale of its fund management business outside of China to US private equity firm Ares Management in a $5 billion-plus deal. Following the transaction, GLP managed $80 billion in assets with $6 billion in unimplemented capital in its funds.

GLP retained its existing stakes in the ex-China funds now managed by Ares and also invested in the Los Angeles-based firm’s first Japan data centre fund, which reached a $2.4 billion final closing in June.

Zhejiang Partnership

On Tuesday, GLP revealed that it had secured a RMB 2.5 billion ($349.5 million) investment from Zhejiang government entities in exchange for a strategic stake in the firm’s China data centre business.

The tie-up marks the first milestone in a comprehensive partnership GLP is developing together with the Zhejiang government after a strategic alignment reached in April, the company said.

In addition to being the home of e-commerce giant Alibaba, Zhejiang is home to tech firms including AI powerhouse DeepSeek, humanoid robot maker Unitree Robotics and Game Science, the studio behind the hit game Black Myth: Wukong.