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New York Private Equity Firm Gears Up To Bid On Singapore Warehouse Operator GLP

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Singapore

Warburg Pincus is preparing a bid for Global Logistic Properties, a Singapore-based warehouse operator with a market value hovering around $8.2B.

GLP asked for first-round offers by the beginning of February, and Warburg Pincus, a New York-based private equity firm, is in the process of forming a consortium to make a bid, Bloomberg reports. GLP owns assets in the U.S., China, Brazil and Japan, and should Warburg win the bid it would strategically position the firm to take advantage of the rising demand for warehouse space fueled by e-commerce.

Warburg Pincus has invested in more than 140 Asian companies, and it has the cash to make another purchase — the firm finished raising money for a $12B global private equity fund in late 2015. [Bloomberg]