GLP is a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies. It operates across Brazil, China, Europe, India, Japan and the U.S. and has approximately USD 89 billion in assets under management in real estate and private equity funds. CMG is a large-scale state-owned conglomerate with diversified businesses, including comprehensive transportation, featured finance, holistic development and the operation of residential communities and industrial parks. It has a relatively complete port network along China’s major hub ports, with investment or management rights of terminals distributed in Hong Kong, Taiwan, Shenzhen, Ningbo, Shanghai, Qingdao, Tianjin, Dalian, Yingkou, Zhangzhou, Zhanjiang, Shantou and other container hub ports. Its subsidiary CMC is engaged in alternative investment and asset management with a registered capital of RMB2 billion.
Under the new partnership, GLP and CMC will co-manage CMC’s existing RMB270 billion (USD38 billion) assets under management and the firms will leverage each other’s networks of domestic and international investors to collaborate on the development of new funds. CMC will manage the day-to-day operations, with GLP overseeing the formation of new funds and key investment decisions.
The Hong Kong team was led by Counsel Vincent Chan, assisted by Associate Quinton Tse and Legal Manager Eason Huang. The team conducted extensive due diligence and issued reports and legal opinions on various Cayman Islands and BVI entities within the CMG group.
Vincent commented, “We are pleased to assist our client on their new partnership. The partnership not only benefits GLP’s core business globally through acquisition, but it also opens a door for them to more opportunities by widening their investment scope.”
Our team regularly works with FTSE 100 and Fortune 500 companies around the globe to help them deploy strategic growth and restructuring initiatives, whether involving single jurisdictions or complex multi-jurisdictional, multi-disciplinary transactions.