Canada pension funds to invest in Singapore, Indonesia warehouses

SINGAPORE (March 13): 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.

Canada Pension Plan Investment Board (CPPIB), the top pension fund of the country, said in a statement it will initially commit $200 million for an about 48% stake in LOGOS Singapore Logistics Venture. It will also commit US$100 million for a stake of about 48% 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 depot et placement du Quebec, will be equal partners in both joint ventures, the statement said.

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