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Goodman, Canada Boost China Investment to $600M

HONG KONG-Canada Pension Plan Investment Board has added $250 million, and the venture gained a $100 million loan to boost its logistics venture for China properties.

By Robert Carr | Updated on December 14, 2011

HONG KONG-The Toronto-based Canada Pension Plan Investment Board has invested $250 million into its venture with the Goodman Group, called Goodman China Logistics Holding, based here. The investment, and another $100 million in financing, will be used to grow Goodman’s total investment in China from $300 million to $3 billion, according to Sydney-based firm.

The venture was formed in 2009 to own and develop logistics assets in China. The venture, of which the pension board has an 80% stake, now has an equity commitment of $500 million and owns four total properties. The venture also signed a $100 million, five-year facility with Credit Agricole Corporate, Investment Bank and ING Bank NV.

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