- July 1, 2014: Vol. 6, Number 7

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APG buys stake in Chinese logistics developer

by Jennifer Molloy

Dutch pension fund asset manager APG Asset Management is seeking to capitalise on promising trends supportive of China’s logistics sector by committing up to US$650 million for an approximate 20 percent stake in e-Shang, a Shanghai-based warehouse developer and operator backed by Warburg Pincus. The deal also includes the formation of a strategic joint venture between the organisations to develop and own institutional-grade, modern logistics real estate assets across China.

APG, which has watched China’s logistics sector closely in recent years, expects this investment will provide the right exposure to the sector in line with its long-term investment strategy. “With the continued growth of third-party logistics, e-commerce and the evolution of domestic consumption patterns combined with a severe shortage in

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