GMG Goodman Group

       By Judy McKinnon 
 

Canada's largest pension fund on Thursday said it would partner with Dutch pension fund manager APG Asset Management and Australian property company Goodman Group to invest in logistics and industrial development opportunities in the U.K.

Canada Pension Plan Investment Board, in a joint statement with APG and Goodman, said each investor will commit 200 million British pounds ($305 million) for a 33% stake in the new Goodman UK Logistics Partnership.

"This investment fits well with our long-term investment horizon as we expect the demand for high-quality logistics space to continue growing significantly," CPPIB's Andrea Orlandi, head of real estate investments in Europe, said in the statement.

The new partnership will have an investment capacity of more than 1 billion British pounds, according to the investors.

CPPIB has assets under management of around 269 billion Canadian dollars ($206 billion) and focuses on stead returns over the long term to help fund its pension liabilities.

Write to Judy McKinnon at judy.mckinnon@wsj.com

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(END) Dow Jones Newswires

October 08, 2015 10:36 ET (14:36 GMT)

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