GLP co-founder Jeffrey Schwartz dies

SINGAPORE — Mr Jeffrey Schwartz, co-founder and deputy chairman of Singapore-listed Global Logistic Properties (GLP), passed away on Wednesday, the company announced yesterday.

Mr Schwartz, 55, had taken time off from the company for health reasons. When it announced his leave in a statement on Nov 4, GLP said CEO Ming Z Mei would “continue to lead the company”.

“We are all deeply saddened by the death of my mentor, my partner and, most importantly, my closest friend,” said Mr Mei in the company’s statement yesterday. “His vision was key in making GLP the company it is today … He will be greatly missed by our company, its stakeholders, employees and the industry.”

Mr Schwartz and Mr Mei partnered Singapore sovereign wealth fund GIC in 2008 to buy Prologis’ China operations and a stake in its Japanese property funds for US$1.3 billion (S$1.69 billion). The operations were rebranded as Global Logistic Properties in March 2009.

After an initial public offering in 2010, GLP grew to become one of the largest providers of modern logistics facilities in China, Japan and Brazil. GIC remains the company’s largest shareholder, said GLP.

Mr Schwartz, who was also a board member of Las Vegas Sands, graduated from Harvard Business School in 1985 with a master’s degree in business administration, based on his profile on GLP’s website. He is survived by his wife and four children, said the firm. AGENCIES