CPPIB buys stake in Goodman Hong Kong Logistics Partnership

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LBR Staff Writer
Published 08 December 2017

Canada Pension Plan Investment Board (CPPIB) has invested HK$1.94bn ($249m) to purchase a stake in Goodman Hong Kong Logistics Partnership (GHKLP).

GHKLP is one of Goodman’s logistics partnerships, which owns logistics facilities in Hong Kong. 

Established in 2006, GHKLP owns 12 logistics properties and a 50% controlling interest in container terminal three.

CPPIB managing director and Real Estate Investments Asia head Jimmy Phua said: “There is tremendous opportunity for growth across the logistics sector in Hong Kong, which benefits from growing domestic consumption and the city’s strategic position as a gateway into China.

“We are pleased to deepen our excellent global relationship with Goodman through this investment in GHKLP, while at the same time increasing our exposure to the fast growing logistics sector.”

In 2015, Goodman and CPPIB have creased their equity allocation to the Goodman China Logistics Partnership (GCLP) by around $1.25bn.

The firms have agreed to make equity allocation on an 80:20 basis, with CPPIB investing $1bn and Goodman $250m in GCLP.

In March, CPPIB partnered with Ivanhoé Cambridge and LOGOS to develop and acquire logistics properties in Singapore and Indonesia.

Goodman Group is an integrated property group that carries out operations in Australia, New Zealand, Asia, Europe, the UK, North America and Brazil, while CPPIB invests in public equities, private equities, real estate, infrastructure and fixed income instruments.


Image: CPPIB to acquire a stake in Goodman Hong Kong Logistics Partnership. Photo: courtesy of adamr / FreeDigitalPhotos.net.

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