CPPIB Invests in China Consumers
Logistics firm bets on rising consumer demand.
BY Benefits Canada Staff | September 5, 2012
The Canada Pension Plan Investment Board (CPPIB) has increased its equity allocation to Goodman China Logistics Holding (GCLH) by an additional US$500 million, with US$400 million contributed by CPPIB and US$100 million by Goodman.
“CPPIB’s additional equity investment reflects our belief that China’s logistics sector will continue to grow as demand for modern, efficient logistics facilities is being fuelled by a rising domestic demand for consumer goods,” said Mark Machin, president of CPPIB Asia Inc. “Together with Goodman, we expect that GCLH will continue to perform well over the long term through its participation in the rapid growth of this market.”