Partners Group is investing an undisclosed sum for a 50% stake in a €442m last-mile logistics platform in Norway.

Partners Group, which is investing on behalf of its clients, said it has agreed to invest in LogCap, a logistics platform in Oslo with a portfolio of 19 assets.

The deal makes Partners Group the largest shareholder in the LogCap portfolio.

Partners Group said it will work with LogCap on a value creation plan and seek to expand the €442m portfolio to over €1bn in size.

Anne-Jan Jager, managing director in charge of private real estate Europe at Partners Group, said: “We have been tracking the logistics sector in Norway for some time through our thematic investing approach and following LogCap’s development since early 2021.

“We plan to capitalise on strong occupier demand and limited new stock to create a leading last-mile logistics platform in the country. This investment in LogCap is a great starting point as it provides instant access to scale, vertical depth, and sourcing capabilities in the capital.”

To read the latest edition of the latest IPE Real Assets magazine click here