CPP Investment Board and ESR Partner to Invest in Logistics Facilities in Korea

The Canada Pension Plan Investment Board (CPPIB) has announced that it has agreed to partner with Korea’s e-Shang Redwood (ESR) and its Seoul-based subsidiary, Kendall Square Asset Management, to invest up to US$500 million in a newly-established investment vehicle targeting modern logistics facilities in Korea. Kendall Square will identify new assets, support the acquisition, and provide asset management services to the portfolio. CPPIB and ESR, a leading pan-Asia logistics and real-estate developer, have worked together in the Korean logistics sector since 2015. CPPIB invests the funds not needed by the Canada Pension Plan to pay current benefits on behalf of 20 million contributors and beneficiaries and at March 31, 2018, held funds totalling C$356.1 billion. 

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