10.10.2022
Artikel Nummer: 42459
New logistics fund in the making
The Asian ESR Group has raised AUD 540 million (USD 351 million) for its new venture, EADP II, a develop-to-core logistics fund.
With a targeted fund size of AUD 1 billion (USD 650 million) for EADP II, GIC, ESR's Pan Asia Fund, has committed the lion's share with AUD 490 million (USD 318 million), becoming the cornerstone investor.
EADP II is the successor to the fully allocated ESR Australia Development Partnership (EADP), established in June 2020 with AUD 1 billion of equity commitments from partners including GIC, ESR's Pan Asia Fund, and Sovereign Wealth and Life Insurance funds. All of its equity has been allocated for eight projects in Sydney, Brisbane and Melbourne. (sh)