Sunrise in the central business district of Hong Kong.Jerome Favre/The Globe and Mail
The Canada Pension Plan Investment Board 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 per cent 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.