Why CPPIB & Goodman are upping China logistics bet

The Canadian pension fund and Australian property developer have increased their firepower for deals ahead of a 5G rollout that is set to deliver a major fillip to Chinese e-commerce.

Canada Pension Plan Investment Board (CPPIB) and property investor Goodman Group said on Thursday that they have committed an additional $1 75 billion of equity to the Goodman China Logistics Partnership (GCLP or Partnership), increasing their total equity commitment to $5 billion

The additional equity will be made on an 80:20 basis, with CPPIB allocating $1 4 billion and Goodman $350 million, consistent with the partnership’s equity structure

“The fundamentals of the Chinese logistics sector remain compelling, driven by domestic consumption growth in China, including e-commerce, which underpins the strong demand for prime logistics facilities,” Jimmy Phua, CPPIB’s head of real estate investments in Asia, said in a statement, 

CPPIB and Australia's Goodman are adopting a...

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