Beijing: China Investment Corporation (CIC), will set up two JVs with Canada Pension Plan Investment Board, the Government of Singapore Investment Corp and Global Logistics Properties, to purchase two investment portfolios and build a large-sized logistics platform in Brazil. Most of the assets of the two jvs will focus on developing the logistics market in Sao Paulo and Rio de Janeiro.
One of the two portfolios CIC has got involved in includes 34 logistics facilities and a development project.
It is the second logistics industry investment of CIC after the purchase of logistics facilities in Japan in 2010 together with Global Logistics Properties. [19/11/12]