CPPIB to expand logistics portfolio in Brazil, invest $343 million

Wed Nov 14, 2012 6:42am EST
 

(Reuters) - The Canada Pension Plan Investment Board, one of the world's biggest pension funds and global dealmakers, said it formed a joint venture with Singapore-based warehouse operator Global Logistic Properties and will invest $343 million to expand its logistics portfolio in Brazil.

The deal involves the acquisition of two logistics portfolios in Brazil.

Global Logistic Properties (GLP), Asia's largest provider of logistics, is 50.6 percent owned by sovereign wealth fund Government of Singapore Investment Corp.

GLP will act as asset manager of the acquired properties, CPPIB said in a statement. (Reporting by Bhaswati Mukhopadhyay in Bangalore; Editing by Roshni Menon)