Goodman, CPPIB boost China joint venture with $500m
Australian property and logistics firm Goodman Group and Canada Pension Plan Investment Board (CPPIB) have injected a further $500 million into their joint venture, Goodman China Logistics Holding (GCLH), increasing its capacity to a total of $1 billion. CPPIB contributed $400 million of the equity, while Goodman provided the rest.
GCLH, which is 80%-backed by Canada Pension Plan and 20%-backed by Goodman, was launched in August 2009 with about $180 million under management. The joint venture looks to own and develop logistics assets...
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