GIC, ESR launch third Australian logistics fund with $408m commitment

GIC, ESR launch third Australian logistics fund with $408m commitment

Singapore’s sovereign wealth fund GIC and Warburg Pincus-backed ESR have set up the third core-plus fund for Australian logistics properties, Australia Logistics Partnership III (EALP III), with a committed equity of A$600 million ($408 million), according to a release on Friday.  

GIC, which is the cornerstone investor, is contributing to 90% of the fund and 10% will be injected by ESR, a representative from ESR told DealStreetAsia in a phone interview. GIC declined to comment on the topic.

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