IndoSpace real estate fund raises $205 million from CPP Investments
- ByStartupStory | January 30, 2023
As an anchor investor, the Canada Pension Plan Investment Board (CPP Investments) contributed $205 million to IndoSpace’s new real estate fund. According to a formal statement, the investment represents the first closing for IndoSpace Logistics Parks IV (ILP IV), the company’s fourth development vehicle, which seeks to raise a total of $600 million in equity commitments. This is CPP Investments and IndoSpace’s most recent business endeavour. IndoSpace Core, the first joint venture, was founded in 2017 and claims to have India’s largest portfolio of stabilised modern logistics assets.
ILP III has also received funding from CPP Investments. With the investment in ILP IV, the partnership’s assets will surpass $1 billion.
Hari Krishna V, Managing Director, Head of Real Estate India, CPP Investments, said, “Over the past few years, we have made numerous investments in India’s industrial space, where we see strong demand as the manufacturing sector continues to grow and the ecommerce sector matures.”
The IndoSpace portfolio will grow by 25–30 million square feet as a result of ILP IV. The four main logistics real estate markets in India will be the focus of ILP IV: Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune. The creation of ILP IV comes after the first three development funds, which together own 56 million square feet of contemporary logistics space in India. ILP IV will enable the business to further develop its distinctive national network in order to better service consumers, according to Brian Oravec, Managing Partner and CEO of IndoSpace Capital Asia.
“Industrial and logistics infrastructure is a key enabler of economic growth. To meet India’s aim of becoming a $5 trillion economy by 2025, IndoSpace is excited to continue to be one of India’s key infrastructure creators.”
In India, IndoSpace is a real estate investor, developer, and operator of Grade A industrial and logistics properties. It has a network of 50 logistics parks across the country, totaling 56 million square feet that have been completed or are in the planning phase.
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