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CPPIB commits US$500 million to Indian joint venture managed by IndoSpace

Last Updated May 15, 2017 at 8:20 am MDT

TORONTO – Canada Pension Plan Investment Board says it has committed about US$500 million to become the majority partner in IndoSpace Core, a joint venture with IndoSpace that will buy and develop logistics facilities in India.

The partnership has committed to acquire 13 industrial and logistics parks in India, including Mumbai, Delhi and Bangalore.

The new entity will be managed by IndoSpace Capital Asia.

IndoSpace currently has 21 industrial and logistics parks across India.