| A joint venture between Canadian pension fund PSP Investments and the Abu Dhabi Investment Authority has acquired a portfolio of U.S. industrial properties from Exeter Property Group for $3.15 billion, the buyers said. Canadian pension funds and sovereign wealth funds are looking to buy real estate assets to diversify their investments and offset the effects of volatility in global equity markets and economic uncertainty.
"This investment is consistent with PSP Investments' real estate strategy to make direct investments in sizeable, core industrial assets in key markets alongside experienced partners who share our long-term investment horizon," said Neil Cunningham, PSP's global head of real estate investments...............................................Full Article: Source
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