Morrison & Foerster LLP
08/05/2021 | Press release | Archived content
Morrison & Foerster Advises GLP on the Formation of BRL5.2 billion (USD1.1 billion) Brazil Development Fund
A cross-office team of Morrison & Foerster LLP attorneys acted as international counsel to GLP, a leading global investment manager and business builder in logistics, real estate, infrastructure, finance and related technologies, in the formation of GLP Brazil Development Partners II (GLP BDP II). This is one of the largest ever logistics-focused funds in Latin America, with BRL2.63 billion (USD530 million) of total equity commitments and an expected BRL5.2 billion (USD1.1 billion) in assets under management when the fund is fully leveraged and invested.
As detailed in GLP's press release, GLP BDP II is a logistics-focused fund that will develop nine Class-A logistics parks in prime São Paulo submarkets experiencing high demand for modern logistics facilities, driven by strong growth in e-commerce. The first completed project of GLP BDP II is 100% leased to one of the leading e-commerce companies in Latin America.
The Morrison & Foerster team advising GLP was led by Singapore partners Shirin Tang and Paul Davis and Singapore associates Gillian Teo and Mark Tay.
Other key team members include co-chair of the Firm's global Private Funds Group Stephanie Thomas, funds counsel Kate Sum and funds associate Hila Cohen; tax partners Shane Shelley and Matthew Lau and tax associates Adam Nguyen and Geoffrey Stauffer; and antitrust partner Rony Gerrits.