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LOGOS plots SE Asia expansion

Following backing by Ivanhoé Cambridge, the Sydney-based logistics company has set up base in Singapore to seek investment opportunities in Southeast Asia.  

The Sydney-headquartered property company LOGOS is eyeing an entry into Southeast Asia and has set up an office in Singapore.

PERE understands that the firm has already hired senior management for the Singapore office that will be used as a base for its investments across Southeast Asia. Similar to LOGOS’ operations in China and Australia, the firm would raise capital for logistics deals via joint venture partnerships and club vehicles.

John Marsh, joint managing director for LOGOS, told PERE the firm is currently progressing a number of opportunities in the region with an active pipeline.

The expansion of LOGOS’ operations follows changes in the company’s management structure. In a statement released this morning, the firm confirmed news that the Canadian investor Ivanhoé Cambridge has acquired a strategic interest in LOGOS, and will now join Macquarie Capital and the management as shareholders of LOGOS. Macquarie Capital already owns a stake in LOGOS since 2014. PERE had reported on Ivanhoé’s plans to acquire the stake in early February after news of the firm notifying the European commission about the investment was made public.

The Canadian investor has committed capital to LOGOS-managed ventures in the past. In June last year, Macquarie Capital assisted LOGOS China in raising $400 million via a joint venture partnership between Ivanhoé Cambridge and CBRE Global Investors called LOGOS China Logistics Club.

“We intend to make further investments in future LOGOS-managed ventures across the Asia-Pacific region alongside trusted institutional partners. We will continue to support the growth of the platform as a leading Asia-Pacific logistics real estate company,” said Rita-Rose Gagné, executive vice-president, growth markets, Ivanhoé Cambridge.

Marsh said Ivanhoé Cambridge’s strategic investment in LOGOS creates a joint opportunity for the business to deepen its presence in the Asia-Pacific region, alongside its existing capital partners. He declined to comment on the amount of interest owned by each stakeholder.

Marsh further told PERE that the firm is speaking with potential investors about raising a follow-on China logistics fund that will be similar in size and strategy to LOGOS China Logistics Club that is now completely deployed.

LOGOS was established in 2010 by joint managing directors Marsh and Trent Iliffe and so far has raised over A$1.3 billion (€880 million; $960 million) in equity commitments from institutional investors for logistics deals in Australia and China. It has approximately 17 million square feet in assets under management or development.