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CPP Investments to anchor new IndoSpace Fund with USD 205 mln investment

Monday, 30 Jan 2023

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Canada Pension Plan Investment Board (CPP Investments) has announced an investment of USD 205 million in its capacity as an anchor investor in the new real estate fund, IndoSpace Logistics Park IV (ILP IV) launched by IndoSpace.

ILP IV is targeting USD 600 million of total equity commitments.

ILP IV will contribute an additional 25-30 million sq ft to the IndoSpace portfolio as it seeks to focus on key cities such as Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune. The earlier three development funds stacked up a combined total of 56 million sq ft of modern logistics real estate in India.

With this deal, the portfolio of CPP Investments which had also invested in ILP III, has elevated the partnership to build USD one billion in assets.

CPP Investments expects strong risk adjusted returns for its contributors and beneficiaries, even as Indospace continues to expand its footprint in the industrial and logistics infrastructure, and thereby facilitate economic growth in India.