TOKYO and TORONTO, Sept. 3, 2020 /CNW/ – Canada Pension Plan Funding Board (CPP Investments) is collaborating within the launch of the GLP Japan Revenue Fund (“GLP JIF”), the most important personal open-ended logistics fund in Japan.
The transaction marks an extension of CPP Investments’ partnership with GLP that was first established in 2011 by way of the formation of GLP Japan Development Fund (“GLP JDV I”), a 50:50 joint venture that targeted on constructing fashionable, large-scale logistics services in Japan. This three way partnership was subsequently expanded a number of occasions, together with the launch of a second Japan improvement enterprise in 2016. On the finish of August 2020, CPP Investments efficiently exited the funding in GLP JDV I, receiving roughly JPY 48 billion (C$590 million) of web proceeds.
Following the disposition, CPP Investments will re-commit JPY 25 billion (C$307 million) of the proceeds into the newly established GLP JIF.
“The transactions mark a major milestone for CPP Investments’ actual property funding program in Japan,” stated Jimmy Phua, Managing Director and Head of Actual Property Investments, Asia, CPP Investments. “The sturdy fundamentals within the Japanese logistics market proceed to make this a compelling funding alternative for long-term buyers. We’re happy to proceed our strategic relationship with GLP, one in every of our key world actual property companions, whereas recycling capital for different compelling funding alternatives.”
GLP JIF was established with JPY 280 billion (C$3.four billion) property beneath administration at inception and consists of a number of the greatest logistics property within the nation, together with six LEED Gold and Platinum licensed initiatives. The fund is managed by GLP, a number one world funding supervisor and enterprise builder in logistics, actual property, infrastructure, finance and associated applied sciences with operations throughout Brazil, China, Europe, India, Japan and the U.S. and US$89 billion in property beneath administration.
About CPP Investments
Canada Pension Plan Funding Board (CPP Investments™) is an expert funding administration group that invests world wide in the most effective pursuits of the greater than 20 million contributors and beneficiaries of the Canada Pension Plan. To be able to construct diversified portfolios of property, investments in public equities, personal equities, actual property, infrastructure and glued earnings are made by CPP Investments. Headquartered in Toronto, with workplaces in Hong Kong, London, Luxembourg, Mumbai, New York Metropolis, San Francisco, São Paulo and Sydney, CPP Investments is ruled and managed independently of the Canada Pension Plan and at arm’s size from governments. At June 30, 2020, the Fund totalled C$434.four billion. For extra info, please go to www.cppinvestments.com or observe us on LinkedIn, Facebook or Twitter.
SOURCE Canada Pension Plan Funding Board
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