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CPP Investments anchors new IndoSpace fund with $205 mn investment

Investment will add an additional 25-30 million square feet to real estate firm's portfolio

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2 min read Last Updated : Jan 30 2023 | 2:54 PM IST

Canada Pension Plan Investment Board (CPP Investments), an asset management company, said on Monday it has entered into a joint venture (JV) with IndoSpace and will invest $205 million in the real estate firm’s fund.

The JV marks the first close for IndoSpace Logistics Parks IV (ILP IV), a development vehicle targeting $600 million of total equity commitments. CPP’s investment will add an additional 25-30 million square feet to IndoSpace’s portfolio, focusing on real estate markets in Ahmedabad, Bangalore, Chennai, Delhi, Hyderabad, Kolkata, Mumbai, and Pune.

CPP Investments has also invested in IndoSpace Logistics Parks III. Following the investment in ILP IV, the partnership will exceed $1 billion in assets.