Strategics Team Up for Brazil Logistics
A group of strategic investors has agreed to spend BRL2.9bn ($1.49bn) to acquire a portfolio of Brazilian logistics facilities from asset manager Hemisferio Sul Investimentos. Canada Pension Plan Investment Board (CPPIB), Singapore’s GIC sovereign wealth fund, GIC’s Global Logistic Properties (GLP) unit and the China Investment Corp (CIC) will form a pair of joint ventures to own the commercial distribution properties, the parties say. It is the latest sovereign wealth vehicle movement into Latin America and one that highlights a diversification away from...
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