CPPIB, Caisse to invest in Singapore, Indonesia warehouses: Reuters
Canada’s two biggest pension funds have agreed to partner with LOGOS, a real estate logistics operator, to invest in warehouses in Singapore and Indonesia, betting on demand from the rise of e-commerce and a burgeoning middle class in southeast Asia, Reuters reported. Canada Pension Plan Investment Board said in a statement it will initially commit US$142 million for an about 48 percent stake in LOGOS Singapore Logistics Venture. It will also commit US$100 million for a stake of about 48 percent in LOGOS Indonesia Logistics Venture. CPPIB and Ivanhoé Cambridge, which is the real estate arm of Canada’s second-largest pension fund manager Caisse de dépôt et placement du Québec, will be equal partners in both joint ventures, the statement said.
