CPPIB, Goodman inject another $500m into China logistics venture
Canada Pension Plan Investment Board (CPPIB) and Australian property and logistics firm Goodman Group have increased the equity commitment to their China joint venture, putting in another $500 million. A contribution of the same size was made last August, which took the capacity of Goodman China Logistics Holding (GCLH) to $1 billion but this is now almost fully deployed.
As with previous investments, the partners' allocations reflect the 80-20 ownership structure of the joint venture, with CPPIB injecting $400 million to Goodman's $100 million. GCLH was formed in 2009...
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