Publications

Investors

To read this full article you need to be subscribed to Newsline.

Start Your Free Trial Now

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, as

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?