Canada’s Public Sector Pension Investment Board (PSP Investments) has committed up to A$800 million to the Aliro Group Industrial Vehicle (AGIV), reinforcing global confidence in Australia’s industrial property market.
PSP joins the AGIV platform alongside cornerstone investor CBRE Investment Management’s Indirect Private Real Estate Strategy. The investment is expected to accelerate AGIV’s acquisition and development pipeline across Australia’s eastern seaboard, targeting prime logistics and industrial assets in high-demand, supply-constrained areas.
AGIV, launched in 2018, is Aliro Group’s flagship open-ended industrial vehicle. It currently holds a portfolio valued at A$2.2 billion upon completion, with 12 sites in key locations including Caringbah (NSW), Dandenong South and Tottenham (VIC), and Geebung (QLD). The platform recently secured a A$700 million Sustainability Linked Loan and was named a 2024 Global Real Estate Sustainability Benchmark (GRESB) Sector and Regional Leader.
Stephane Jalbert, Managing Director and Head of Europe and Asia-Pacific at PSP Investments, said the partnership delivers immediate scale and aligns with PSP’s real estate strategy in the region. “This investment complements our already extensive investment portfolio in Australia,” he said.
Aliro Group’s Executive Chairman David Southon welcomed PSP’s backing, calling it a significant milestone. “The enlarged partnership strengthens our ability to scale with discipline,” Southon said.
Daniel Wise, CEO and Co-Founder of Aliro Group, added that the partnership will enhance AGIV’s capacity to deliver long-term value. “We foresee further opportunities that align with Aliro’s growth trajectory and our commitment to sustainable investment.”
CBRE Capital Advisors and Macquarie Capital advised on the deal. CBRE IM’s Head of APAC Indirect, Alex Crossing, said PSP’s entry would add scale and diversification to the vehicle, citing continued investor interest in Australian industrial assets amid low vacancy and stable capitalisation rates.
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