CPP Investments infuses $205 mn in IndoSpace’s real estate fund

Noida: Canada Pension Plan Investment Board (CPP Investments) has infused $205 million as an anchor investor in property developer IndoSpace’s new real estate fund. The investment marks the first close for IndoSpace Logistics Parks IV (ILP IV), the company’s fourth development vehicle, which targets $600 million of total equity commitments.

CPP Investments had previously partnered with IndoSpace on Core, which is a real estate core fund and also invested in its third real estate fund. Following the investment in ILP IV, the partnership will exceed $1 billion in assets.

“Over the past few years, we have made numerous investments in India’s industrial space, where we see strong demand as the manufacturing sector continues to grow and the e-commerce sector matures. We are pleased to be working with our longstanding partner IndoSpace to further capitalize on opportunities in this space and believe this investment will deliver strong risk adjusted returns for CPP contributors and beneficiaries,” Hari Krishna V, Managing Director, Head of Real Estate India, CPP Investments, said.