Mapletree Investments Pte Ltd (“Mapletree” or “the Group”) has secured over US$500 million in equity commitments for the first close of its Emerging Asia logistics development strategy.
- Secured US$250 million in commitments for the first close of MEGA, a private fund focused on logistics development projects across Malaysia, Vietnam and India
- The Group has also raised more than US$250 million in commitments via a joint venture and co-investments that will be deployed into selected development projects in Malaysia
- MEGA seeks to raise an additional US$200 million in capital commitments for the second close targeted by early next year
- Altogether, Mapletree’s Emerging Asia logistics development strategy is expected to comprise assets with a total investment value of US$2.1 billion when fully deployed
This comprises US$250 million in commitments secured during the first close of Mapletree Emerging Growth Asia Logistics Private Trust (“MEGA” or “the Fund”), along with more than US$250 million raised via a joint venture and direct co-investments into selected development projects in Malaysia. The investors across the strategy include, among others, sovereign wealth funds, a pension fund and a national investment company. MEGA seeks to raise an additional US$200 million in capital commitments for the second close targeted by early next year.
MEGA will focus on logistics development opportunities across Malaysia, Vietnam and India markets where growing domestic consumption, manufacturing activity and supply chain diversification continue to drive demand for modern logistics facilities amid a structural undersupply of institutional-grade logistics space. The Fund is targeting to deliver an internal rate of return (“IRR”) in excess of mid-teens and will provide its investors access to Mapletree’s integrated real estate capabilities and established logistics development track record.
MEGA has an initial seeded portfolio comprising four development projects in Malaysia, one development project in India and two warehouses in Vietnam. Altogether, MEGA, the joint venture and the co-investments are expected to comprise a portfolio of assets with total investment value of US$2.1 billion across its target markets when fully deployed.
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