Investment

CPP Investments and LOGOS Establish New Indonesia Logistics Venture

Published

4 years ago

January 3, 2021

JAKARTA, Indonesia and HONG KONG, Jan. 4, 2021 /CNW/ – Canada Pension Plan Investment Board (“CPP Investments”) and logistics real estate specialist LOGOS today announce the establishment of a new Indonesia venture for the development of modern logistics facilities in Greater Jakarta.

CPP Investments will invest US$200 million into the joint venture, which will develop a diversified portfolio of facilities targeted at third party logistics (3PL), data centre and industrial tenants.

“One of the key investment themes for CPP Investments has been Asia’s growing middle class and domestic consumption,” said Jimmy Phua, Managing Director and Head of Real Estate Investments, Asia, CPP Investments. “The growth in Indonesia’s e-commerce market has driven the demand for modern logistics facilities. We are pleased to be furthering our partnership with LOGOS and strengthening our position in Indonesia’s logistics market.”

This is the second joint venture between CPP Investments and LOGOS in Indonesia, with the first launched in 2017 in partnership with another international investor to acquire modern logistics properties in this market. The initial venture includes a number of logistics properties: Metrolink Logistics Hub, Cikarang Logistics Park, Cibitung Logistics Hub and Cileungsi Distribution Centre.

“We are seeing growing demand from both multi-national and domestic customers for high-quality logistics space in Indonesia, which is underpinned by the region’s economic drivers of ecommerce, manufacturing and diversification to decentralised supply chains,” said Stephen Hawkins, LOGOS’ Managing Director. “We are very pleased to be working with a long-standing partner in CPP Investments to meet this demand and, through both ventures, deliver up to US$1 billion of high-quality logistics facilities to this market over the coming years.”

LOGOS has identified a strong pipeline of opportunities for this new venture and will look to execute on this over the next 12 months.

LOGOS’ Asia Pacific portfolio comprises 100 logistics estates across nine countries with AUM of approximately US$10.2 billion. LOGOS counts some of the world’s largest fund managers as its shareholders, including ARA Asset Management, a leading Asia Pacific real assets fund manager with a global reach, which took a majority stake in the company in March 2020.

MIRA Real Estate acted as financial adviser to LOGOS for the transaction.

About CPP Investments

Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that invests around the world in the best interests of the more than 20 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments in public equities, private equities, real estate, infrastructure and fixed income are made by CPP Investments. Headquartered in Toronto, with offices in Hong Kong, London, Luxembourg, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm’s length from governments. At September 30, 2020, the Fund totalled $456.7 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Facebook or Twitter.

About LOGOS

LOGOS is a dynamic and growing logistics specialist with operations across Australia, China, Singapore, Indonesia, Malaysia, Vietnam, India and New Zealand. LOGOS’ shareholders include ARA Asset Management, a leading Asia Pacific real assets fund manager with S$110 billion in gross assets under management globally; Ivanhoé Cambridge, a Canadian real estate industry leader investing in in high-quality properties and companies with C$64 billion in real estate assets globally; and LOGOS’ founders.

LOGOS manages every aspect of logistics real estate, including investment management, sourcing land or facilities and undertaking development and asset management, on behalf of some of the world’s leading global real estate investors. LOGOS has over 6.4 million sqm of property owned and under development, with a completed value of US$10.2 billion, across 24 ventures, including the Singapore listed ARA LOGOS Logistics Trust. www.logosproperty.com

SOURCE Canada Pension Plan Investment Board

For further information: MEDIA CONTACTS, CPP Investments, Connie Ling, Director, Corporate Communications, +852 3959 3476, [email protected]; LOGOS, Rachel Mornington-West, Group Head of Corporate Affairs, +61 434 604 590, [email protected]

Source: – Canada NewsWire

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Economy

S&P/TSX composite down more than 200 points, U.S. stock markets also fall

Published

1 week ago

September 6, 2024

Anne Joseph

TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.

The S&P/TSX composite index was down 239.24 points at 22,749.04.

In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.

The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.

The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.

The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.

This report by The Canadian Press was first published Sept. 6, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Economy

S&P/TSX composite up more than 150 points, U.S. stock markets also higher

Published

2 weeks ago

August 29, 2024

Anne Joseph

TORONTO – Canada’s main stock index was up more than 150 points in late-morning trading, helped by strength in technology, financial and energy stocks, while U.S. stock markets also pushed higher.

The S&P/TSX composite index was up 171.41 points at 23,298.39.

In New York, the Dow Jones industrial average was up 278.37 points at 41,369.79. The S&P 500 index was up 38.17 points at 5,630.35, while the Nasdaq composite was up 177.15 points at 17,733.18.

The Canadian dollar traded for 74.19 cents US compared with 74.23 cents US on Wednesday.

The October crude oil contract was up US$1.75 at US$76.27 per barrel and the October natural gas contract was up less than a penny at US$2.10 per mmBTU.

The December gold contract was up US$18.70 at US$2,556.50 an ounce and the December copper contract was down less than a penny at US$4.22 a pound.

This report by The Canadian Press was first published Aug. 29, 2024.

Companies in this story: (TSX:GSPTSE, TSX:CADUSD)

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Investment

Crypto Market Bloodbath Amid Broader Economic Concerns

Published

1 month ago

August 5, 2024

Harry Miller

The crypto market has recently experienced a significant downturn, mirroring broader risk asset sell-offs. Over the past week, Bitcoin’s price dropped by 24%, reaching $53,000, while Ethereum plummeted nearly a third to $2,340. Major altcoins also suffered, with Cardano down 27.7%, Solana 36.2%, Dogecoin 34.6%, XRP 23.1%, Shiba Inu 30.1%, and BNB 25.7%.

The severe downturn in the crypto market appears to be part of a broader flight to safety, triggered by disappointing economic data. A worse-than-expected unemployment report on Friday marked the beginning of a technical recession, as defined by the Sahm Rule. This rule identifies a recession when the three-month average unemployment rate rises by at least half a percentage point from its lowest point in the past year.

Friday’s figures met this threshold, signaling an abrupt economic downshift. Consequently, investors sought safer assets, leading to declines in major stock indices: the S&P 500 dropped 2%, the Nasdaq 2.5%, and the Dow 1.5%. This trend continued into Monday with further sell-offs overseas.

The crypto market’s rapid decline raises questions about its role as either a speculative asset or a hedge against inflation and recession. Despite hopes that crypto could act as a risk hedge, the recent crash suggests it remains a speculative investment.

Since the downturn, the crypto market has seen its largest three-day sell-off in nearly a year, losing over $500 billion in market value. According to CoinGlass data, this bloodbath wiped out more than $1 billion in leveraged positions within the last 24 hours, including $365 million in Bitcoin and $348 million in Ether.

Khushboo Khullar of Lightning Ventures, speaking to Bloomberg, argued that the crypto sell-off is part of a broader liquidity panic as traders rush to cover margin calls. Khullar views this as a temporary sell-off, presenting a potential buying opportunity.

Josh Gilbert, an eToro market analyst, supports Khullar’s perspective, suggesting that the expected Federal Reserve rate cuts could benefit crypto assets. “Crypto assets have sold off, but many investors will see an opportunity. We see Federal Reserve rate cuts, which are now likely to come sharper than expected, as hugely positive for crypto assets,” Gilbert told Coindesk.

Despite the recent volatility, crypto continues to make strides toward mainstream acceptance. Notably, Morgan Stanley will allow its advisors to offer Bitcoin ETFs starting Wednesday. This follows more than half a year after the introduction of the first Bitcoin ETF. The investment bank will enable over 15,000 of its financial advisors to sell BlackRock’s IBIT and Fidelity’s FBTC. This move is seen as a significant step toward the “mainstreamization” of crypto, given the lengthy regulatory and company processes in major investment banks.

The recent crypto market downturn highlights its volatility and the broader economic concerns affecting all risk assets. While some analysts see the current situation as a temporary sell-off and a buying opportunity, others caution against the speculative nature of crypto. As the market evolves, its role as a mainstream alternative asset continues to grow, marked by increasing institutional acceptance and new investment opportunities.