South Korea's National Pension Service (NPS) invested 500 billion won in acquiring fulfillment center portfolios with approximately 1.33 million square meters in multiple US cities, including Atlanta, Boston, Chicago, Detroit, and Memphis.
The investments were made through Stockbridge Capital’s US$2 billion funds.
The project is the largest US industrial asset transaction since the COVID-19 outbreak.
Most of the centers in the portfolio are newly-built cutting-edge facilities with high investment value and are in long-term lease contracts with major e-commerce firms such as Amazon.
The NPS has so far made two joint investments with Stockbridge Capital, the first being in November last year in US logistics facilities with an area of 800,000 square meters.
The NPS is expanding its alternative investment to raise its investment returns and diversify and reduce investment risks.
Alternative investment accounts for 12 percent of its total investments with the ratio set to be increased to 15 percent by 2025.
Stockbridge Capital is a San Francisco-based alternative investment asset management firm with a portfolio worth US$18


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