Investors - MARCH 3, 2014

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Malaysia’s EPF forms second JV with Goodman

by Andrea Waitrovich, released 2/13/14

The Employees Provident Fund of Malaysia and Australia-based Goodman Group has formed a joint venture, called the KWASA Goodman German. The announcement was made in Goodman’s year-end results released Feb. 13.

The Malaysian pension fund has doubled its equity commitment to €500 million ($689 million). In July 2013, EPF initially committed €250 million ($343 million) to the venture.

KGG is held on a 70/30 basis, with EPF holding the larger share. It is mandated to buy completed logistics properties in Germany and is seeking core-like returns overall. To date, the partnership has acquired assets totaling €213 million ($293 million) from Goodman’s balance sheet and its Goodman European Logistics Fund.

It is also EPF’s second joint venture with Goodman, a

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