Canadian investors form Southeast Asian logistics JVs
The C$298.1 billion (US$222.8 billion) Canada Pension Plan Investment Board has entered into two agreements to invest alongside Ivanhoé Cambridge, a C$56 billion (US$41.9 billion) real estate subsidiary of Canada’s Caisse de dépôt et placement du Québec, with logistics specialist LOGOS in LOGOS Singapore Logistics Venture and LOGOS Indonesia Logistics Venture to develop and acquire modern logistics facilities in Singapore and Indonesia, respectively.
“The logistics sector in Southeast Asia continues to grow as a result of the burgeoning middle class and the rise of e-commerce, and presents an excellent opportunity for a long-term investor like CPPIB,” said Jimmy Phua, managing director, head of real estate investments – Asia, with CPPIB, in a statement. “We are looking forward to making our first direct real estate investments in Singapore and Indonesia through well-established, like-minded partners like LOGOS and Ivanhoé Cambridge.”
CPPIB and Ivanhoé