Goodman expands China deal

The Goodman Group and the Canadian Pension Plan Investment Board (CPPIB) have agreed to expand their China Partnership by a further $US500 million ($A545 million), according to The Australian.

CPPIB will cover 80 per cent of the additional funds, which will bring the total commitment by the two sides to $1.5 billion since forming a partnership in 2009 to invest in logistics sheds across China (see Cliona O'Dowd's Collected Wisdom).

“The increased equity allocation of $US500 million will help to fund the continued growth of our China platform through a number of identified development projects for high quality logistics space in the major Chinese markets,” Goodman chief executive Greg Goodman said, according to The Australian.