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CPP Investment Board adding US$1 billion to China logistics commitment

TORONTO – Canada Pension Plan Investment Board is committing an additional US$1 billion to logistics investments in China.

The funds will be allocated to the Goodman China Logistics Partnership, set up in 2009 to focus on key markets such as the Shanghai and Beijing regions of China.

Goodman Group will also commit an additional US$250 million to the fund, maintaining an 80:20 ownership structure by the two partners.

The partnership will also acquire nine projects, including land, from Goodman Group — an integrated property group operating in several regions around the world.

CPPIB say the nine projects coming from Goodman are valued at more than US$650 million.

Canada Pension Plan Investment Board manages about C$272.9 billion worth of assets on behalf of the Canada Pension Plan.