Hong Kong-listed AIA Group has formed a strategic partnership with GLP to invest in the global logistics real estate industry.
GLP is a Singapore-based global real estate logistics provider and investment manager.
According to a statement by AIA on Aug 25, the partnership will enable the insurance group to leverage on GLP’s investment experience and expertise in the area.
The partnership aligns with AIA’s environmental, social and governance (ESG) strategy by engaging with companies that recognise and incorporate ESG-related considerations into their decisions.
“AIA believes in the strong fundamentals that support the future development of the global logistics real estate market. The alliance is a core part of AIA’s growth strategy to create scalable relationships with world-class investment partners. We are very excited about partnering with GLP, which will allow AIA to acquire exposure in the growing and exciting logistics real estate industry,” says Mark Konyn, AIA Group’s chief investment officer.
“We look forward to launching this significant investment partnership with AIA. We take a strategic and innovative approach to growth and value creation for our investment partners and believe we can deliver value to the partnership as experienced global investors and operators,” adds Craig Duffy, GLP’s managing director, fund management.
Shares in AIA closed HK$1.30 higher or 1.38% up at HK$95.25 on Aug 27.
Photo: Bloomberg
