MUMBAI, India, January 30, 2023 /CNW/ – The Canada Pension Plan Investment Board (CPP Investments) today announced an investment of 205 million US dollars as the lead investor in IndoSpace’s new real estate fund. IndoSpace is a leading real estate company in India. The investment marks the first closure of IndoSpace Logistics Parks IV (ILP IV), the company’s fourth development facility targeting 600 million US dollars of total equity commitments.
This is the latest venture between CPP Investments and IndoSpace. The first joint venture, IndoSpace Core, was established in 2017 and now holds the largest portfolio of stabilized advanced logistics assets in India. CPP Investments also invested in ILP III. Following the investment in ILP IV, the partnership will go beyond 1 billion US dollars in assets.
ILP IV will add an additional 25-30 million square feet to IndoSpace’s portfolio, strengthening IndoSpace’s leadership position in the Indian market. ILP IV will focus on of India largest logistics real estate markets: Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbaiand Pune. The creation of ILP IV is a continuation of the first three development funds, which have a total of 56 million square feet of modern logistics real estate in India.
Hari Krishna V, Managing Director, Head of Real Estate India, CPP Investments, said“Over the past few years, we have made numerous investments in of India an industrial space where we see strong demand as the manufacturing sector continues to grow and the e-commerce sector matures. We are pleased to work with our long-standing partner IndoSpace to further capitalize on opportunities in this space and believe this investment will deliver strong risk-adjusted returns for CPP contributors and beneficiaries.”
Brian Oravecmanaging partner and CEO, IndoSpace Capital Asia, said“We are excited to expand our successful partnership with CPP Investments. CPP Investments’ commitment to ILP IV is testament to IndoSpace’s leadership in the industrial and logistics real estate space in India. ILP IV will allow us to continue to expand our unique national network to better serve our customers. Industrial and logistics infrastructure is a key factor for economic growth. Let’s meet of India the goal of becoming a 5 trillion US dollars economy by 2025, IndoSpace is excited to continue to be one of the of India key infrastructure builders.”
About CPP Investments
Canada Pension Plan Investment Board (CPP InvestmentsTM) is a professional investment management organization that manages the Fund in the best interests of the 21 million contributors and beneficiaries of the Canada Pension Plan. Investments are made worldwide in public equities, private equity, real estate, infrastructure and fixed income to build diversified asset portfolios. Headquarters in Torontowith offices in Hong Kong, London, Luxembourg, Mumbai, new York, San FranciscoSao Paulo and Sydney, CPP Investments is managed and managed independently of the Canada Pension Plan and at a distance from governments. According to September 30, 2022amounts to the Fund 529 billion Canadian dollars. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.
IndoSpace (www.indospace.in) is the largest investor, developer and operator of Class A industrial and logistics real estate in India. IndoSpace has the largest national network of 50 logistics parks with 56 million square feet delivered/under development across 10 cities. with of India the largest and most experienced industrial real estate team, IndoSpace continues to lead the development of key logistics infrastructure for of India Economic Growth. For more information visit www.indospace.in and follow us on LinkedIn, Twitterand Facebook.
SOURCE Canada Pension Plan Investment Board
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