Singapore’s sovereign wealth fund backing a new UK operating partner.
Singapore’s sovereign wealth fund GIC has embarked on a strategy to aggregate a £500m industrial portfolio in partnership with a new operating partner, Green Street News can reveal. GIC has formed a joint venture with Chancerygate, a specialist logistics asset manager and developer. The Singaporean investor has committed around £250m of equity to the new platform.
GIC’s logistics pedigree
GIC is one of world’s most active logistics buyers, which it has achieved through platform deals, recaps, and more recently direct asset deals.
The investor’s partnership with Chancerygate is expected to focus on multi-let industrial opportunities, where value can be enhanced through active asset management
initiatives.
The Singaporean sovereign wealth fund owns logistics specialist P3, which has been investing in the UK, France and Germany over the past two years.
Other notable logistics moves by GIC in European logistics include: a €3bn recapitalisation of EQT Exeter’s European Value Venture III vehicle; an additional $1.2bn commitment to its $2.5bn European urban logistics joint venture with Kennedy Wilson; and an investment of around €4bn into the €21bn recapitalisation of Blackstone’s
Mileway.
Chancerygate has invested with JR Capital, with the duo’s inaugural multi-let urban logistics fund – MFL Fund 1 – acquiring £100m of assets. The duo subsequently established a second fund.
You can read the full article here: http://www.jrcapitalgroup.com/wp-content/uploads/2025/02/GIC-to-build-500m-logistics-portfolio-Green-Street-News.pdf