Pedestrians walk past commercial buildings in the Pudong area of Shanghai, China, on Wednesday, Jan. 30, 2013.Tomohiro Ohsumi/Bloomberg
Canada Pension Plan Investment Board is committing an additional $1-billion (U.S.) to logistics investments in China.
The funds will be allocated to the Goodman China Logistics Partnership, set up in 2009 to focus on key markets such as the Shanghai and Beijing regions of China.
Goodman Group will also commit an additional $250-million to the fund, maintaining an 80:20 ownership structure by the two partners.
The partnership will also acquire nine projects, including land, from Goodman Group – an integrated property group operating in several regions around the world.
CPPIB say the nine projects coming from Goodman are valued at more than $650-million.
Canada Pension Plan Investment Board manages about $272.9-billion (Canadian) worth of assets on behalf of the Canada Pension Plan.