Everstone, GLP to launch $500m investment platform for logistics
GLP and private equity firm Everstone have established a $500 million partnership to invest in non-real estate Indian logistics.
“This new partnership with GLP will allow us to leverage each other’s strengths to create a unique technology-led logistics investment strategy in India. Our existing capabilities and national network, coupled with GLP’s strong global track record and expertise will enable us to add significant value to our investments,” said Sameer Sain, Everstone Group co-founder and CEO.
The investment will focus on different sectors, including express-delivery, smart trucks, telematics and automation/robotics.
GLP entered the India market in September this year through a joint venture with Everstone-backed industrial real estate firm IndoSpace. IndoSpace has more than $2 billion in assets under management and has plans to build out a pipeline of approximately 120 million square feet of modern logistics infrastructure.
Demand for logistics facilities in India is driven by economic expansion, growth in organized retail and ecommerce and the modernization of India’s supply chain, underpinned by favorable government policies, such as the Goods and Services Tax and the ‘Make in India’ initiative, said Everstone.
