Ivanhoé Cambridge has provided the firepower for Sydney-headquartered property company LOGOS' debut fund in South East Asia.
The Canadian investor has committed S$150 million ($111 million; €98 million) to the Logos Southeast Asia Venture. LOGOS will also look to raise additional capital from other sources for the vehicle.
“This is an exciting next step in the growth of LOGOS in Southeast Asia,” Stephen Hawkins, managing director of Logos Southeast Asia, commented. “Together with our capital partners, LOGOS will expand our specialist logistics real estate platform throughout Southeast Asia, capitalizing on our deep pipeline of new development and investment opportunities.”
LOGOS has already made its first investment in the region via the vehicle after partnering with Yang Kee Logistics, a Singapore-based logistics asset manager. The firm has acquired a stake in two Singapore logistics properties and also established a strategic partnership with Yang Kee to further develop logistics facilities in the country.
PERE previously reported in March that LOGOS opened an office in Singapore and made senior hires to build the firm's South East Asia platform.
The expansion into Singapore was revealed at the same time Ivanhoé Cambridge acquired a strategic interest in the company alongside Macquarie Capital and its own management.
Macquarie Capital also acted as exclusive financial adviser to LOGOS for the transaction and as sole lead manager and arranger for the capital raising.