GIC has entered a €300m joint venture in European logistics with Exeter Property Group.
Singapore’s sovereign wealth fund said the partnership would invest in logistics properties in “key European distribution hubs”.
The partnership will build a portfolio targeting value-add opportunities in core locations, with Exeter managing the partnership and buying assets.
GIC said the joint venture would develop and redevelop assets to generate stable, long-term income returns.
Assets with access to motorways, water ports (both inland and sea faring), airports and rail nodes will be targeted.
GIC said there would be increasing demand for logistics space over the long term, with a growing trend of e-commerce, supply-chain reorganisation and increased use of third-party logistics providers.
GIC, along with Ontario Teachers Pension Plan and PSP Investments, last year said it was investing $700m (€647m) in US freight specialist XPO Logistics.