Abu Dhabi wealth fund-backed investment firm GLP is reportedly targeting a valuation of about $20 billion with an initial public offering in Hong Kong.
Singapore-based GLP has been in talks with advisers including Citigroup and Morgan Stanley about the potential listing, which could take place as early as this year, Reuters reported, citing people familiar with the matter.
A wholly owned subsidiary of Abu Dhabi Investment Authority agreed last year agreed to invest up to $1.5 billion in GLP, extending a partnership that has spanned several years through fund-level collaborations between the two groups.
GLP describes itself as a thematic investor and platform builder with about $80 billion in assets under management across real assets and private equity, according to its website. The firm focuses primarily on sectors such as logistics, digital infrastructure and renewable energy.
