GLP Wants To Raise $500 million to fund Chinese expansion

According to Bloomberg, GLP Pte is mulling over raising up to $500 million to expand its data center footprint in China. The Singapore-based investment manager wants to raise funds from investors in exchange for a minority stake in the firm. GLP Pte’s data center business is valued at up to $5billion. The company was established in 2009, and it serves as a global investment manager in digital infrastructure and logistics. According to GLP, its assets, including those under development, will provide up to 1,400 MW of IT capacity when completed. 

GLP’s website doesn’t show any complete list of data centers. However, it completed the first phase of its 1.6 million square feet data center in November last year in Jiangsu Province. The data center will provide over 120MW of capacity upon full buildout. In addition, reports show that the company is building a data center in Hebei, China. GLP also revealed that it had invested up to RMB 10 billion ($1.5 billion) in the development of the facility.