Pallas Capital Advisors LLC lifted its stake in shares of Global Partners by 2.7% during the third quarter. GLP is a global leader in logistics real estate with a proven track record as business builder, owner, developer and operator with one of the largest logistics real estate footprints in the world. At over $2.3 billion the fund, GLP . Who owns GLP? Copyright 2023 ALM Global, LLC. 617-542-5300 GLP@investorrelations.com 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. On the EV front, our sustainability group welcomed and electric innovation strategist to evaluate, educate and guide our strategy in the electric space, including electric vehicle and charger market. Product margin from crude oil was negative $2.7 million for the fourth quarter, down $0.5 million from a year earlier. GLP Capital Partners. All Rights Reserved. In 2022, we made great strides in defining our role in the energy transition from actively crafting clean fuels policy to investing in the infrastructure to deliver low-carbon solutions to creating mechanisms for people to lead with ingenuity; we are making progress on our sustainability journey. Global Partners LP (NYSE: GLP) Q4 2022 Earnings Call Transcript February 27, 2023. Our combined investing and operating expertise allows us to create value for our customers and investors. GLP China has signed an agreement with Contemporary Amperex Technology Ltd. (CATL), the worlds leading battery provider and the largest maker of electric vehicle (EV) batteries, to create a new platform aimed at expanding the use of new energy through asset-as-a-service offerings and advancing sustainability in logistics and transportation. Now it's my pleasure to turn the call over to our President and Chief Executive Officer, Eric Slifka. While macroeconomic uncertainty remains, we continue to focus on driving returns for unitholders through a combination of organic growth, strategic acquisitions, optimization and innovation. Turning to our distribution. Our Commercial segment also capped 2022 with a strong fourth quarter as bunkering activity remained robust. GLP Capital Partners (GCP) Jan 2022- Present1 year 2 months New York, New York, United States Investments Director of Investments GLP Capital Partners (GCP) Sep 2018- Dec 20213 years 4 months. 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. We're excited to share the new GLP Capital Partners (GCP) and GLP structure. GLP Capital Partners Native Currency USD Fund Manager's Location 100 Wilshire Boulevard Suite 1400 Santa Monica, CA 90401 United States +1 (310) 000-0000 Fund Domiciles United States: Delaware Cayman Islands GLP Capital Partners IV Investment Strategy Investments by Industry Investments by Deal Type Want detailed data on 3M+ companies? With all of the SEC rule proposals, the expansion of the proxy voting regime flew under the radar a bit. Bank of America Corp DE increased its position in shares of Global Partners by 20.6% during the first quarter. The Los Angeles City Employees' Retirement System (LACERS) disclosed in a meeting document that it has approved a $40m commitment to the fund. #GCP #GLP, Very exciting to be managingthis ETF! Passionate about delivering on HR principles of attracting, developing, and retaining talent. Today's call will include forward-looking statements within the meaning of Federal securities laws. Neil Everitt Branded Consumer Products and Services Find Out More Ronald Gidwitz View contacts for GLP Capital Partners to access new leads and connect with decision-makers. No need to worry, says Felipe Villarroel. Managing Director, Head of Global Investor Relations at GLP Capital Partners (GCP). GLP has been growing its data centers business since 2018, with a focus on sustainability, safety and the community. People and culture are core to GLPs business and its global success. Goldman Sachs Group Inc. now owns 193,521 shares of the energy companys stock worth $4,548,000 after acquiring an additional 57,422 shares during the last quarter. The increases for the quarter and full year of 2022 were primarily driven by our Wholesale and GDSO segments. 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. GLP is dedicated to incubating innovative technologies that enhance our businesses and assets by making them smarter and more efficient, GLP Capital Partners announces new structure as dedicated global alternative asset manager focused on investing in high-growth, new economy sectors. The increases in the quarter and the full year were in part due to increases in accrued discretionary incentive compensation and wages and benefits. Global Partners undertakes no obligation to revise or update any forward-looking statements. For the full year, Commercial segment product margin increased $25.4 million to $41 million. GLP Capital Partners, led by Alan Yang, former chief investment officer of Singaporean. GLP is the largest shareholder of GLP Capital Partners. The energy company reported $1.54 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.14, MarketWatch Earnings reports. Website https://gcp.com/ Industries Financial Services Company size 501-1,000 employees Headquarters Singapore Type. Adjusted EBITDA for the fourth quarter of 2022 was $106.9 million, compared with $66 million for the same period in 2021. GLP Capital Partners. Monoful is the business development arm of GLP Japan. It is the largest fleet management platform in Asia and provides IoT and AI-enabled fleet management and other services to empower logistics companies. The company announced the . 12 Best Affordable Dividend Stocks to Buy, Stay Informed: Jerome Powells Policy Report & Important Economic Data, What cautious spending means for the US economy: YF Explains, 3 top tips for investors trying to weather the current economic storm: Strategist, UPDATE 1-UK says Ukraine forces under increasingly severe pressure defending Bakhmut, Ukraine Latest: Russian Defense Chief Makes Rare Visit to Troops. It provides software as a service (SaaS) products for logistics and invests in tech companies that create value for customers through the logistics ecosystem in Japan. *May exclude premium content These statements include projections, expectations and estimates concerning the future financial and operational performance of Global Partners, which are based on assumptions regarding market conditions, demand for liquid energy products and convenience store products, the regulatory and permitting environment, the forward product pricing curve and other factors, which could influence our financial results. The Chicago event on Thursday, March 9th is open to all to support women in the construction and engineering fields! Fund Management & Investment GLP Capital Partners is the exclusive fund manager and investment advisor of GLP, a leading global business builder, investor, developer and operator. Achieved total IT load capacity of ~1,400 MW in China. At over $2.3 billion the fund, GLP Capital Partners IV, exceeded its parents $2 billion target. Select Accept to consent or Reject to decline non-essential cookies for this use. 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. Global Partners LP (NYSE:GLP) Q4 2022 Earnings Call Transcript February 27, 2023. The company was formerly listed on SGX-ST between 2010 to 2018. Sep 2022 - Present7 months. Crude oil product margin improved to a negative $9.4 million, up $3.4 million from a year earlier. The segment's performance for both periods was driven largely by an increase in bunkering activity. Product margin in the fourth quarter increased $5.1 million year-over-year to $9.9 million. GLP Capital Partners has announced a final close for GCP SecureSpace Property Partners. Which One is Best? Why do investors keep destroying wealth? It's zoned for industrial development and can be developed into 500,000 square feet of commercial space. The Wholesale segment sells branded and unbranded gasoline and gasoline blendstocks and diesel to wholesale distributors. The increases for the quarter and full year of 2022 were primarily driven by our Wholesale and GDSO segments. 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. 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. This button displays the currently selected search type. Watch below as Catherine discusses the Emerge EMPWR program as a stepping stone for other women in the industry.This program will be a role model for future female portfolio managers. Our sites are strategically located along the "dorsale" logistics corridor and offer customers access to United Kingdom's biggest population centers and sea ports. GLP is a global company with headquarters in every country in which we operate including Brazil, China, Europe, India, Japan, the US and Vietnam. Leverage, which is defined in our credit agreement as funded debt-to-EBITDA was approximately 1.74x at the end of the fourth quarter. 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. I lead the legal strategy on major transactions and coordinate our dedicated team of external counsel. 332 followers 329 connections. | Learn more about Melissa Ava Marshall MCIPD's . Delivered first phase of 120 MW data center in Jiangsu Province, China. The adviser's REGISTRATION status is listed below. Operator: Good day, everyone, and welcome to the Global Partners Fourth Quarter 2022 Financial Results Conference Call. GLP forms strategic investment partnerships with companies that can bring about more opportunities and synergies with our core logistics real estate business globally and expand our investment scope further into adjacent segments. Copyright 2020 GLP. 27-Jul-2022 BBB- Review - No Action Long Term Rating Rating History. For the full year, adjusted EBITDA was $485.2 million compared with $244.3 million in the same period of 2021. By caring for the environment, empowering people, particularly our employees and communities and practicing responsible governance, we have formed the foundation for an enduring business that has stood the test of time and continues to thrive. 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 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. Already have an account? The distribution was paid on February 14 to unitholders of record as of the close of business on February 8. 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 gasoline distribution contribution to product margin was up $36.2 million to $155.9 million, primarily due to higher fuel margin and an increase in volumes sold, partially due to our recent acquisitions. When expanded it provides a list of search options that will switch the search inputs to match the current selection. Headquarters Location 100 Wilshire Blvd. Eric Slifka: Thank you, Sean, and good morning, everyone. MetLife Investment Management LLC Buys 2,282 Shares of Wabash National Co. MetLife Investment Management LLC Boosts Stake in MannKind Co. MetLife Investment Management LLC Boosts Holdings in 23andMe Holding Co. MetLife Investment Management LLC Raises Stock Holdings in TG Therapeutics, Inc. Cantor Fitzgerald Analysts Decrease Earnings Estimates for Chinook Therapeutics, Inc. (NASDAQ:KDNY), 61,368 Shares in Zeta Global Holdings Corp. (NASDAQ:ZETA) Purchased by MetLife Investment Management LLC, MetLife Investment Management LLC Buys 2,282 Shares of Wabash National Co. (NYSE:WNC), MetLife Investment Management LLC Boosts Stake in MannKind Co. (NASDAQ:MNKD), MetLife Investment Management LLC Boosts Holdings in 23andMe Holding Co. (NASDAQ:ME), MetLife Investment Management LLC Raises Stock Holdings in TG Therapeutics, Inc. (NASDAQ:TGTX), MetLife Investment Management LLC Has $414,000 Position in American Axle & Manufacturing Holdings, Inc. (NYSE:AXL), MetLife Investment Management LLC Raises Holdings in Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT), MetLife Investment Management LLC Purchases 7,570 Shares of Armada Hoffler Properties, Inc. (NYSE:AHH), MetLife Investment Management LLC Has $418,000 Holdings in Morphic Holding, Inc. (NASDAQ:MORF), UMH Properties, Inc. (NYSE:UMH) Shares Acquired by MetLife Investment Management LLC, Shell Asset Management Co. Sells 316 Shares of Howmet Aerospace Inc. (NYSE:HWM). 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. These filings (on Form N-PX) aren't due until 2024, but the first reporting period starts on July 1, 2023. GLP's global platform owns and operates assets and businesses in 17 countries including Brazil, China, Europe, India, Japan, the US and Vietnam. GLPs strategy is to make private equity investments in businesses and technologies that complement our core logistics real estate business and other high-growth sectors of the economy. Global Partners LP has a 52-week low of $20.23 and a 52-week high of $39.24. Retailers faced a wide range of challenges in 2022. Global Robotics Services We are pleased to provide a new innovative platform for customers constantly seeking to improve the productivity of their logistics . It operates through the following business segments: Wholesale, Gasoline Distribution and Station Operations (GDSO), and Commercial. Net income was $57.5 million for the fourth quarter of 2022 compared with $19.3 . 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. Hear the latest economic, business and market news, as well as global, national, and local news. This report is available on our website, and I encourage you to review it. Partner at Holland & Knight LLP - West Coast Real Estate Deputy Practice Group Leader. G7 is a technology company backed by GLP. Sensors track detailed information on trucks, drivers and cargo in real time, thus enabling a real-time view of fleet operations and the flow of goods. Join to view profile GLP Capital Partners . Purchased by MetLife Investment Management LLC. GLP Capital Partners (GCP) has raised $2.3bn (1.9bn) for its North American logistics real estate fund.