GIC, Exeter Property Group form €300m partnership to invest in logistics properties

Visual form the website of Exeter Property Group

Singapore’s sovereign wealth fund, GIC Monday said it had established a €300m ($324 million) partnership with Exeter Property Group, an industrial real estate investment management specialist, to invest in logistics properties in key European distribution hubs.

GIC said the investment will be in those logistics distribution hubs that offer easy access to motorways, water ports – both inland and sea faring – airports and rail nodes

Justifying the investment, it said that in future, the region would see an increasing demand for logistics space due to the growing trend of e-commerce, supply chain reorganisation and the increased use of third party logistics providers.

“The partnership intends to build a portfolio by targeting value-add opportunities in core locations. Exeter will manage the partnership and use its integrated real estate operator skills to acquire and actively manage the assets and implement value-add strategies including development and redevelopment to generate stable, long-term income returns,” GIC said in a statement.

GIC has been linked to a slew of major deals globally off late, but none of them have been announced yet.

DEALSTREETASIA recently reported that Formula One’s largest shareholder CVC Capital Partners has teamed up with Singapore’s sovereign wealth fund GIC Private Limited for a £2.5 billion bid for Center Parcs, the British-based leisure resorts operator.

GIC is also reported to be part of the consortium led by PGGM, the Dutch public sector pension fund, that is in talks to buy the world’s largest vehicle-leasing business from Volkswagen in a deal worth estimated around €3 billion ($3.2 billion).

 

Also read:

CVC & Singapore’s GIC team up for £2.5b bid for Center Parcs

GIC part of PGGM-led consortium in $3.2b LeasePlan deal

 

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.