Canada’s Ivanhoe, CBRE in Chinese warehouse play
Ivanhoé Cambridge, a real estate investment arm of Canada's pension fund the Caisse de dépôt et placement du Québec (CDPQ), has partnered with CBRE Global Investment Partners to invest in Logos China Logistics Clubs, a Chinese warehouse developer and operator.
The commitment made by Ivanhoe and its partners will allow Logos to make warehousing investments totaling up to $400 million, it said in a statement.
"Our investment with Logos China supports our plan to grow our exposure to opportunities in the logistics sector in key markets such as Shanghai and Guangzhou," Rita-Rose Gagné, executive vice president in growth markets for Ivanhoé Cambridge, said. "The team's solid experience and expertise, the location of the assets and the strong development pipeline make Logos a partner of choice for Ivanhoé Cambridge."
Ivanhoe Cambridge holds more than C$42 billion ($34 billion) assets located in Canada, the US, Europe, Brazil, Mexico, China and Australia. As of the end of last year, CDPQ had C$225.9 billion in net assets.
CBRE Global Investment Partners, which has C$11.7 billion in assets under management, is an independent division of CBRE Global Investors delivering global real estate investment strategies for clients.
Spurred by a lack of high-quality supply and rising demand from retail customers, private capital is flooding into China's logistics sector - coming directly from sovereign wealth funds and pension funds as well as through private equity funds. Warehousing providers and third-party logistics players are popular targets.
More on Greater China
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.