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Canada Pension Plan Investment Board has committed to invest USD 205 million in <keyword id="2024711" type="General" weightage="100" keywordseo="indospace" source="Orion">IndoSpace</keyword>'s new real estate fund to develop industrial and logistics parks in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. IndoSpace is one of the largest investor, developer, and operator of grade A industrial and logistics real estate in India. It has a national network of 50 logistics parks with 56 million square feet delivered/under development across 10 cities. According to a statement, the investment by Canada Pension Plan Investment Board (<keyword id="11083569" type="General" weightage="80" keywordseo="cpp-investments" source="Orion">CPP Investments</keyword>) marks the first close for IndoSpace Logistics Parks IV (<keyword id="16290722" type="General" weightage="80" keywordseo="ilp-iv" source="Orion">ILP IV</keyword>), the company's fourth development vehicle targeting USD 600 million of total equity commitments. CPP Investments is an anchor investor in the new fund. This is the latest venture between CPP Investments and IndoSpace. The first joint venture, IndoSpace Core, was established in 2017 and it now owns a large portfolio of stabilized modern logistics assets in India. CPP Investments has also invested in <keyword id="1098207" type="General" weightage="80" keywordseo="ilp" source="Orion">ILP</keyword> III. Following the investment in ILP IV, the partnership will exceed USD 1 billion in assets. The new fund ILP IV will add an additional 25-30 million square feet to the IndoSpace portfolio. ILP IV will focus on India's largest logistics real estate markets like Ahmedabad, Bengaluru, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune. The establishment of ILP IV follows on from the first three development funds, which have a combined total of 56 million square feet of modern logistics real estate in India. 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 e-commerce sector matures." Brian Oravec, Managing Partner and CEO, IndoSpace Capital Asia, said, "CPP Investments' commitment to ILP IV is a testament to IndoSpace's leadership in the industrial and logistics real estate space in India. ILP IV will allow us to continue to expand our unique national network to better serve our customers." CPP Investments is a professional investment management organization that manages the Fund in the best interest of the 21 million contributors and beneficiaries of the Canada Pension Plan. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/air-india-to-use-cloud-software-app-to-facilitate-real-time-reporting-of-in-flight-incidents/articleshow/97438110.cms">Air India to use cloud software app to facilitate real-time reporting of in-flight incidents</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/adani-enterprises-fpo-subscribed-just-2-amid-allegations-by-hindenburg-research/articleshow/97437900.cms">Adani Enterprises FPO subscribed just 2% amid allegations by Hindenburg Research</a>

CPP Investments commits $205 mn to Indospace's new fund for building industrial, logistic parks in India

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CPP Investments commits $205 mn to Indospace's new fund for building industrial, logistic parks in India

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