CPPIB pumps $500M into India’s industrial real estate sector

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.