ESR Cayman, a Hong Kong-based logistics real estate platform backed by Warburg Pincus, has announced the closing of USD1b ESR KS II, a joint venture with Canadian Pension Plan Investment Board and Dutch pension fund APG. ESR, CPP Investments, and APG have made initial commitments of USD200m, USD450m, and USD350m, respectively, for 20%, 45%, and 35% stakes. The venture will focus on developing an industrial and logistics portfolio in South Korea. Read more