CalSTRS forms €400m European logistics joint venture
The $188.6 billion California State Teachers Retirement System is investing €400 million ($424.7 million) in CP Logistics Europe SARL, a joint venture with Principal Real Estate Investors, according to its investment committee semi-annual report.
CalSTRS will own 95 percent of the investment, while Principal will own the remaining 5 percent. The vehicle will invest across the core, value-added and opportunistic investment strategies.
In previous European investments, CalSTRS committed $300 million to Kildare European Partners II, an opportunistic closed-end fund sponsored by Kildare Partners that focuses on distressed assets and is currently seeking to raise $2.4 billion. Kildare European Partners II plans to in