Why CPPIB & Goodman are upping China logistics bet
The Canadian pension fund and Australian property developer have increased their firepower for deals ahead of a 5G rollout that is set to deliver a major fillip to Chinese e-commerce.
Canada Pension Plan Investment Board (CPPIB) and property investor Goodman Group said on Thursday that they have committed an additional $1.75 billion of equity to the Goodman China Logistics Partnership (GCLP or Partnership), increasing their total equity commitment to $5 billion.
The additional equity will be made on an 80:20 basis, with CPPIB allocating $1.4 billion and Goodman $350 million, consistent with the partnership’s equity structure.
“The fundamentals of the Chinese …
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