APG, an asset management company, Canada Pension Plan Investment Board, a global investment management organization, and ESR Cayman, an Asia focused Real Estate services and investment firm, formed a $1bn joint venture. “Following the success of our first joint venture with ESR and CPP Investments in Korean logistics, we are delighted to be able to repeat the partnership. This will allow us to capture the next wave of growth and opportunity in a sector that even in these uncertain times, is demonstrating resilience. Throughout our global portfolio we look for investment opportunities that allow us to meet the long-term return and sustainability objectives of our pension fund clients. With like-minded partners such as CPP Investments and the local execution expertise of ESR, this new venture is perfectly placed to do just that,” Graeme Torre, APG Head of Real Estate.