Institution: CPP Investments
Headquarters: Toronto, Canada
AUM: C$519.6 billion
Allocation to alternatives: 61.0%
Canada Pension Plan Investment Board has announced a commitment of ¥110 billion ($961 million; €826 million) to the newly established GLP Japan Development Partners IV, the fourth modern logistics partnership in Japan between CPP Investments and GLP.
According to a press release by CPP, GLP JDP IV has raised ¥311 billion so far and is targeting ¥412 billion of total equity commitments.
GLP JDP IV will focus on developing logistics facilities in Japan, in particular large-scale projects in the Greater Tokyo and Greater Osaka areas. When fully deployed, GLP JDP IV is expected to reach more than ¥1 trillion in assets under management.
The fund’s predecessor, GLP Japan Development Partners III, held a final close in December 2018, having raised its target of ¥250 billion.
CPP Investments allocates 8.6 percent of its investment portfolio to private real estate, comprising C$44.7 billion ($36.2 billion; €31.1 billion) in capital.
CPP’s recent real estate commitments have tended to focus on industrial vehicles in the Asia-Pacific region that target value-add or opportunistic returns.
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