ARA Asset Management Ltd (ARA) has announced its acquired a majority stake in LOGOS.
LOGOS will now operate as ARA’S platform for logistics assets globally.
ARA has completed the transfer of its holdings in ARA Trust Management (Cache) Limited, the manager of Cache (the Manager), and its unitholding in Cache Logistics Trust (Cache), a major Singapore logistics REIT with assets under management (AUM) of approximately S$1.3 billion, to LOGOS.
The partnership combines ARA’s global fund management capabilities with LOGOS’ extensive Asia Pacific logistics property and development expertise, which will create a logistics real estate development and investment management platform.
ARA will continue to retain control of the Manager via its holding in LOGOS and will continue to grow Cache to enhance value for its unitholders.
Cache will be rebranded in the coming months to align with ARA and LOGOS’ growth plans.
John Lim, ARA Group CEO said this acquisition marks an exciting milestone to expand its logistics platform in Asia Pacific.
“LOGOS is one of the largest and fastest growing logistics real estate players in the region with a strong track record and its fund products are highly complementary to those of ARA,” John said.
“We will be able to offer our investors a comprehensive set of investment vehicles across the risk spectrum to meet their investment needs in the logistics real estate space via the new platform.”
Trent Iliffe, LOGOS’ Joint Managing Director said the logistics sector is undergoing significant growth and the acquisition will continue the expansion of LOGOS within all Asia Pacific markets.
LOGOS now operates across eight countries in the Asia Pacific since the company was founded ten years ago.
ARA Logistics Partners Limited joins existing shareholders, LOGOS’ founders and Ivanhoé Cambridge, offering ARA’s investors a whole suite of products in the private and public markets.
George Agethen, Ivanhoé Cambridge’s Senior Vice President of Asia-Pacific said as a long-term shareholder of LOGOS, as well as an investor with LOGOS in China, India, Singapore, Indonesia and Australia, Ivanhoe are delighted to welcome ARA as a new partner and look forward to expanding our investment program.
In recent years, ARA has expanded globally to the United States and Europe from its Asia Pacific stronghold and added new platforms like infrastructure, real estate credit and hospitality to provide a spectrum of investment products across different sectors and geographies.
“We will continue to seek out growth opportunities globally to increase our product offerings to investors, with a focus on the real assets space where our core competencies lie, and in regions where we have boots on the ground, in line with our investor-operator philosophy,” John said.