Private Equity

PE-RE Fund Investments

CPPIB to invest $205-M in first close of IndoSpace's 4th logistics parks fund

Press Release  

Canada Pension Plan Investment Board (CPPIB) is to invest USD 205 million, as an anchor investor, in IndoSpace's new real estate fund, marking the first close for IndoSpace Logistics Parks IV (ILP IV), which is targeting a final corpus of USD 600 million. ILP IV will add 25-30 million square feet to the IndoSpace portfolio. ILP IV will focus on logistics real estate markets in Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune. CPPIB and IndoSace had established their first joint venture, IndoSpace Core, in 2017. That JV is claimed to own the largest portfolio of stabilised modern logistics assets in India. CPPIB had also invested in ILP III. Following the investment in ILP IV, the partnership will exceed USD 1 billion in assets. The first three funds have a combined real estate of 56 million square feet of logistics space in India.