ESR Group, LOGOS complete anchor close of Pan Asia Core+ Venture

ESR Group and its subsidiary LOGOS, a logistics specialist with operations across 10 countries in Asia Pacific, have completed the anchor close of the new co-branded Pan Asia Core+ Venture (PACV) with $250 million in equity commitments.

The initial capital raise, which was led by LOGOS on behalf of ESR Group, includes investments from two major institutional capital partners — Germany’s Nordrheinische Ärzteversorgung pension fund (NAEV) and the Employees Retirement System (ERS) of Texas, which contributed $100 million.

PACV is the first open-ended pan-Asian strategy focused on stabilized assets and will enhance returns for investors with some exposure to value-add/develop-to-core strategies across Asia Pacific. PACV will invest in prime logistics assets across Asia Pacific with an initial focus on the developed markets of Australia, New Zealand, Singapore, Japan and South Korea. The vehicle will also have an allocation for strategic develop-to-hold opportunities a