The Canada Pension Plan Investment Board (CPPIB) is investing $320 million in a partnership with more than a dozen modern logistics properties in Hong Kong.
The Goodman Hong Kong Logistics Partnership, created in 2006, has assets worth about $4.7 billion including a 50% interest in Goodman Interlink — which is co-owned by CPPIB.
Jimmy Phua, CPPIB’s head of real estate investments in Asia, said in a statement Thursday the pension fund manager wants to increase its exposure to the growing logistics sector.
He added that e-commerce will drive growth in the logistics sector “and Hong Kong is in a prime geographic position to benefit as more players enter the market.”
CPPIB invests funds for the Canada Pension Plan. As of Sept. 30, the CPP Fund had $328.2 billion under management.