Scott Solomon, SVP Sharon Merrill Associates, Inc. 501 Boylston Street, 10th Floor Boston, MA 02116. 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. This information is available in the PitchBook Platform. December 08, 2021 05:30 PM. 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. Angel, Fund of Funds, Venture Capital), General contact email for the organization. *May exclude premium content Watch our brand video Catherine is the founder and CEO of Catherine Avery Investment Management and sub-advisor to the Emerge EMPWR Sustainable Dividend Equity ETF. Ming co-founded Eastern Bell Venture Capital and sits on various public and private boards. The value-add fund will invest into the logistics sector. Global Partners LP has a 52-week low of $20.23 and a 52-week high of $39.24. 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. The segment's performance for both periods was driven largely by an increase in bunkering activity. 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 transaction is expected to close in the first half of 2023, subject to customary closing conditions, including regulatory approval. 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. 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. GLPGCP GLP Capital Partners ""46 1250 . Were proud of our long-shared history and culture with GLP and will continue to leverage our combined capabilities to create a powerful and unique ecosystem and value proposition for the benefit of our investors, customers and each other. In January, the Board declared a fourth quarter cash distribution of $1.5725 per unit on all of our outstanding common units consisting of a quarterly distribution of $0.6350 per unit, $2.54 per unit on an annualized basis and a onetime special distribution of $0.9375 per common unit. Today's call will include forward-looking statements within the meaning of Federal securities laws. Net income was $57.5 million for the fourth quarter of 2022 compared with $19.3 . Bank of America Corp DE increased its position in shares of Global Partners by 20.6% during the first quarter. This special Bloomberg program highlights the event's biggest interviews and news makers. Join to view profile GLP Capital Partners . Operator: Good day, everyone, and welcome to the Global Partners Fourth Quarter 2022 Financial Results Conference Call. Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com. The company announced the . Chief Operating Officer at GLP Capital Partners Englewood, Colorado, United States 1K followers 500+ connections Join to connect GLP Capital Partners (GCP) Activity Congratulations Karolina. San Francisco Bay Area, Silicon Valley), Operating Status of Organization e.g. We operate across Asia, Europe, and the Americas. For the full year 2022, wholesale product margin increased $148.8 million to $287.7 million. GLP is a global company with headquarters in every country in which we operate including Brazil, China, Europe, India, Japan, the US and Vietnam. Achieved total IT load capacity of ~1,400 MW in China. 332 followers 329 connections. Americold. Leverage, which is defined in our credit agreement as funded debt-to-EBITDA was approximately 1.74x at the end of the fourth 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. Global Partners LP (GLP) Stock Price, News, Quote & History - Yahoo Finance U.S. markets closed Dow Futures -65.00 (-0.39%) Global Partners LP (GLP) NYSE - Nasdaq Real Time Price.. Institutional investors and hedge funds own 28.40% of the companys stock. 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 Get the full list, To view GLP Capital Partners IVs complete team members history, request access, Youre viewing 5 of 428 funds. 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. This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector. Stockholders of record on Wednesday, February 8th were issued a $1.572 dividend. GLP Capital Partners LP - Company Profile and News - Bloomberg Markets Live Now Bloomberg TV+ Bloomberg Technology The only daily news program focused exclusively on technology, innovation and. Address: 100 Wilshire Blvd Ste 1400 Santa Monica, CA, 90401-1196 United States See other locations Phone: Website: www.glpcp.com Employees (this site): Modelled Employees (all sites): Modelled Revenue: Modelled Year Started: Unlock full sales materials and reports Contacts Get in Touch with 1 Principals* and 4 Contacts Adam Burnes Principal SG&A expenses increased $23 million in the fourth quarter to $80.8 million. 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. Our combined investing and operating expertise allows us to create value for our customers and investors. Tower Research Capital LLC TRC Raises Stock Holdings in Innoviva, Inc. (NASDAQ:INVA), Tower Research Capital LLC TRC Trims Holdings in SPDR S&P Pharmaceuticals ETF (NYSEARCA:XPH), Get a free copy of the StockNews.com research report on Global Partners (GLP), Hormel Hits 2-Year Low, And The Dip Gets Bought, Heres Why Ross Could Soon Be Hitting All Time Highs. Markets never sleep, and neither does Bloomberg. Santa Monica, California, United States 1-10 Venture Capital Early Stage Venture www.glpcp.com/ 10,144 Highlights Investments 6 Employee Profiles 5 Contacts 21 Similar Companies 5 In the renewable fuels area, we permitted and completed the installation of customizable biofuel systems at four of our terminals and began biofuel supply projects at two additional facilities. Los Angeles, CA Prologis 3 years 7 months Investment Director Prologis Nov 2020 - Oct . The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks and diesel to wholesale distributors. Why do investors keep destroying wealth? With all of the SEC rule proposals, the expansion of the proxy voting regime flew under the radar a bit. To explore GLP Capital Partners IVs full profile, request access. Mar 2023 - Present1 month. Shares of NYSE GLP opened at $34.99 on Friday. Copyright 2020 GLP. 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. The Chicago event on Thursday, March 9th is open to all to support women in the construction and engineering fields! This years Innovation Summit featured finalists selected by the Earthshot council in addition to panelist speakers from heads of state, grassroots organizations and tech leaders. Pallas Capital Advisors LLC lifted its stake in shares of Global Partners by 2.7% during the third quarter. GLP Capital Partners CEO Alan Yang and Modlo Logistics Center (GLP) As demand outpaces supply in South Florida's industrial market, GLP Capital . Where is GLP located? Please go ahead, sir. The companies it has invested in include Linklogis, Sygnum, Fenbeitong, Flowcast, Smart-Insight and more. Passionate about delivering on HR principles of attracting, developing, and retaining talent. At the end of 2022, our GDSO portfolio consisted of 1,673 sites, comprised of 353 company-operated sites, 295 commission agents, 192 leasing dealers and 833 contract dealers. Los Angeles City Employees' Retirement System, Youre viewing 5 of 6 limited partners. Overnight on Wall Street is daytime in Asia. GLP has announced a substantial plan to enter the Japan data center market, with a target of investing more than $12 billion over the next five years to build out 900 MW of power capacity. Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business. Pallas Capital Advisors LLC now owns 1,382,449 shares of the energy companys stock worth $46,312,000 after purchasing an additional 36,458 shares in the last quarter. Global Partners LP (NYSE: GLP) Q4 2022 Earnings Call Transcript February 27, 2023. All Rights Reserved. As of December 31, 2022, total borrowings outstanding under the credit agreement were $252.4 million. 304917 Latest Filing 26 Aug 2022 SEC No. Already have an account? Li & Fung is a global leader in creating customized, end-to-end supply chain and logistics solutions to help brands and retailers respond quickly to evolving consumer and production trends. This documentary-style series follows investigative journalists as they uncover the truth. 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! 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. For the full year, DCF was $413.4 million compared with $120.7 million in '21. Emerge is honoured to have Catherine as a sub-advisor on the Emerge EMPWR Platform! 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. Selected profiles of other Operating Partners are also shown below. From incubating new businesses to efficiently operating assets, we take a strategic and innovative approach to growth and value creation. 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. Sovereign Investor Leadership Conference March 2023 Menu Ming graduated from the Kellogg School of Management at Northwestern University and the School of Business and Management at the Hong Kong University of Science and Technology with a Master of Business Administration. GLP owns and operates assets and businesses in 17 countries across Asia, Europe, and the Americas. 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. Any material comments concerning future results of operations will be communicated through news releases, publicly announced conference calls or other means that will constitute public disclosure for the purposes of Regulation FD. 10x easier to find good investments For companies across our industry and many others, 2022 was a year of significant challenges, including supply chain constraints, steep commodity price volatility, inflation, a tough labor market in the war in Ukraine. For the fourth quarter, our Wholesale segment product margin more than doubled from the same period in 2021 as market conditions and effective management of our inventories amid sustained backwardation in the distillates markets combined to drive strong margin capture. This is a profile preview from the PitchBook Platform. #womeninvesting #womeninfinance #etfs #sustainability #emerge, VP, National Sales - DCIO Resolute Investment Managers, From our American Beacon Advisors sub-advisor TwentyFour Asset Management LLP: Strong performance across markets in January has left some investors feeling theyve missed out on the rally in bonds. GLP Capital Partners (GCP) has raised $2.3bn (1.9bn) for its North American logistics real estate fund. GLP Capital Partners has announced a final close for GCP SecureSpace Property Partners. Global Partnerss dividend payout ratio is 25.32%. GLP Capital Partners maintains strong fundraising momentum across strategies in 2022 - GLP Capital Partners At over $2.3 billion the fund, GLP Capital Partners IV, exceeded its parents $2 billion target. The Company focuses on providing logistics real estate investment management solutions. Our focus is on maintaining a small company identity with an entrepreneurial mindset to continue our growth trajectory. 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. Stifel Nicolaus raised Global Partners from a hold rating to a buy rating in a research note on Monday, November 7th. Catherine is a highly experienced active portfolio manager with a career spanning more than 25 years. 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 was founded in 2019 and is based in Santa Monica, California. Interest expense was $19.7 million in the fourth quarter in both 2022 and 2021. GLP Capital Partners. In our gasoline distribution and GDSO segment, we continued to benefit from higher retail fuel margins and increased activity in our convenience markets in part as a result of our recent acquisitions. Sean Geary: Good morning. Several analysts have weighed in on GLP shares. We continue to have ample excess capacity in our credit facility. DCF was $57.3 million for the fourth quarter of 2022 compared with $30.5 million in the same period of '21. The ex-dividend date of this dividend was Tuesday, February 7th. Excluding the net gain on the sale of assets, TTM distribution coverage was 2.8x or 2.6x after factoring in distributions to our preferred unitholders. Brandywine Realty Trust. Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Global Partners LP (NYSE:GLP Get Rating). 13 min read. GLP Capital Partners LP operates as an investment management company. We also have offices in Singapore and Hong Kong. The increases for the quarter and full year of 2022 were primarily driven by our Wholesale and GDSO segments. Luxembourg, Luxembourg Financial Accountant GLP Capital Partners mai 2020 - oct. 2021 1 an 6 mois. Several other hedge funds have also made changes to their positions in GLP. Station operations, including station operations product margin, which includes convenience store and prepared food sales, sundries and rental income, rose $9.9 million to $67.2 million from the fourth quarter of 2021. We also continue to focus on optimizing our terminal network. Managing Director, Head of Global Investor Relations at GLP Capital Partners (GCP). GLP Capital Partners Scores $64M Construction Loan For Doral Logistics Project As demand outpaces supply in South Florida's industrial market, GLP Capital Partners scored a $64.2 million construction loan for a new logistics park in Doral, The Real Deal has learned. Tower Research Capital LLC TRCs holdings in Global Partners were worth $285,000 at the end of the most recent quarter. CapEx or the full year 2022 was $106.8 million, consisting of $54.4 million in maintenance CapEx, in line with our guidance of $45 million to $55 million; and expansion CapEx, excluding acquisitions of $52.4 million, in line with our guidance of $50 million to $60 million. Our new structure puts us in a position to grow GCP into one of the only truly global alternative asset managers with both a leading presence in Asia and a track record of scale and success in the US, Brazil and Europe, said Alan Yang, CEO of GLP Capital Partners. 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. 2022 was an exceptionally strong year for Global, reflecting the dedication of our incredible team, our vertically integrated assets, adaptable operating model and strong balance sheet position us well for the year ahead. See also 10 Most Promising Psychedelic Stocks and 12 Best Affordable Dividend Stocks to Buy.
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