SINGAPORE: 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 South-East Asia.
Canada Pension Plan Investment Board (CPPIB), the top pension fund of the country, said in a statement it would initially commit S$200mil (US$142mil) for a 48% stake in Logos Singapore Logistics Venture. It will also commit US$100mil for a stake of about 48% in Logos Indonesia Logistics Venture.
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