ARA Acquires Macquaire’s Stake in Logos5 March 2020
ARA Asset Management has taken a majority stake in LOGOS Group via its logistics arm, ARA Logistics Partners Limited.
ARA will now joining existing shareholders, LOGOS’ founders and Ivanhoé Cambridge. As part of the transaction, ARA will transition to LOGO's the management of the $1.3bn Cache Singapore logistics REIT. 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.
LOGOs will then operate as ARA’s exclusive platform for logistics assets globally, offering ARA’s investors a whole suite of products in the private and public market.
ARA Group CEO, Mr John Lim, said, “This acquisition marks an exciting milestone for both ARA and LOGOS and we both look forward to expanding our 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. 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.”
LOGOS’ Joint Managing Director, Trent Iliffe, said, “The logistics sector is undergoing significant growth and we are excited to be partnering with ARA to continue the expansion of LOGOS within all Asia Pacific markets. ARA’s investment demonstrates the confidence in LOGOS’ business, our customer and capital partner relationships, and extensive development track record.”
Founded in 2010, LOGOS now operates across eight countries in the Asia Pacific, many of which ARA has a strong presence in. ARA and LOGOS will work together to strengthen its position as a leading logistics real estate developer and investment manager in the region. MIRA Real Estate, which is part of Macquarie Group, has actively supported LOGOS’ rapid expansion across Asia over the past five years and has exited as a LOGOS shareholder as part of this transaction.
Ivanhoé Cambridge’s Senior Vice President of Asia-Pacific, George Agethen, said, “As a long-term shareholder of LOGOS, as well as an investor with LOGOS in China, India, Singapore, Indonesia and Australia, we are delighted to welcome ARA as a new partner and look forward to expanding our investment program with LOGOS as it continues its remarkable growth in the region.”
As investors worldwide start to streamline their number of manager relationships, it is increasingly important for fund managers to provide a whole spectrum of investment products across different sectors and geographies. 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 address this trend.
“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,” Mr Lim said.