CPPIB, BCI to invest in $2.3 bln European logistics vehicle
Canada Pension Plan Investment Board (CPPIB) and British Columbia Investment Management Corp (BCI) have agreed to partner with GLP in a new investment vehicle focused on modern logistics facilities in Europe. GLP Continental Europe Development Partners I, which is expected to reach €2 billion (US$2.3 billion) in managed assets, will receive US$1.1 billion of equity from the partners. CPPIB will commit US$510 million. BCI is participating through its real estate investment arm QuadReal Property Group. Last year, GLP, a Singapore-based logistics solutions provider, acquired Europe's Gazeley from Brookfield Asset Management for US$2.8 billion.
19 November 2018•5 mins read
