British company PLP, partner of Ivanhoe Cambridge, announced the closure of its second investment vehicle, called UKLV2, dedicated to the development of a portfolio of logistics assets in the United Kingdom.
The company has an investment potential of over £750 million. Thus, this vehicle was financed by Ivanhoe Cambridge. The fund is a majority investor in the management of Peel L&P, The Greater Manchester Pension Fund and PLP.
UKLV2 follows the success of UKLV1, PLP’s first investment vehicle. Later, Ivanhoe Cambridge and several co-investors made a commitment of £500 million sterling. The investment is set to develop over 929,000 square meters of prime logistics space.
The investment vehicle strategy involves developing and maintaining a portfolio of logistics assets over the long term (“develop-to-hold”). Thus, it will allow the delivery of high quality properties located near the main clusters of the United Kingdom.
Stanislas Henry, Senior Vice President, Operations and Strategic Partnerships, Europe at Ivanhoe Cambridge, said: ” Following the success of the initial vehicle developed between 2017 and 2022, we are pleased to write this new chapter in the development of the PLP. As a historic and strategic partner, Ivanhoe is very pleased to renew its trust in Cambridge Management and the PLP team. , which are highly aligned with our core financial performance objectives and ESG values. This investment also reaffirms our commitment to the European logistics sector, a key focus of our strategic plan. ,
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