Baker McKenzie advised Canada Pension Plan Investment Board ("CPPIB") on its two agreements to invest alongside Ivanhoé Cambridge with real estate logistics specialist LOGOS in the LOGOS Singapore Logistics Venture ("LSLV") and LOGOS Indonesia Logistics Venture ("LILV"), which will focus on developing the logistics sectors in Singapore and Indonesia, respectively.
In Singapore, CPPIB will initially commit S$200 million for an approximate 48% stake in the LSLV, which will be seeded by two fully-leased existing multi-storey logistics warehouse facilities and one development opportunity. In Indonesia, CPPIB will initially commit US$100 million in equity for an approximate 48% stake in LILV to support a pipeline of similar projects in Greater Jakarta.
The Baker McKenzie team was led by Jason Ng, co-chair of Baker McKenzie’s Global Funds Group. He was principally assisted by Edwin Wong, special counsel, of Baker McKenzie Hong Kong office, as well as Kelvin Poa, principal of Baker McKenzie Wong & Leow. Michael Horman, partner of Baker McKenzie Hong Kong office and Mark Innis, foreign legal consultant of HPP Law Firm, provided support on the M&A aspects of the transaction.
Commenting on the deal, Jason Ng said, “We are delighted to represent CPPIB in this transaction, which further builds on CPPIB's position as one of the long-term investors in Asia. We look forward to continue to partner with CPPIB in its exciting growth plans in the region.”