Canada Pension Plan Investment Board (CPPIB) is investing US$500m in a newly-established investment vehicle to be managed by ESR and its Seoul-based subsidiary Kendall Square Asset Management.
The investment vehicle will target modern logistics facilities in Korea. Kendall Square will identify new assets, support the acquisition and provide asset management services to the portfolio.
ESR is a leading pan-Asia logistics real estate developer, owner and operator focused on the key metropolitan areas most closely tied with consumption and global trade.
Co-founded by Warburg Pincus and backed by APG, CPPIB, Goldman Sachs, PGGM, Ping An and SK Holdings, the ESR platform represents one of the largest in the Asia-Pacific region managing over nine million square metres gross floor area of projects owned and under development across China, Japan, Singapore, South Korea and India, with capital and funds management offices in Hong Kong and Singapore.
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