By Megan Cheah
Australia-based superannuation fund Aware Super is partnering infrastructure provider Goodman Group to invest in a US$1.3 billion logistics platform as it seeks to tap into the U.S. industrial sector.
The platform owns and operates three Los Angeles assets which have tenants including e-commerce giant Amazon and shipping company Maersk, Aware Super said Tuesday.
Aware Super, which has a property portfolio worth 12 billion Australian dollars, equivalent to US$7.89 billion, will own a 49% stake in the venture. Australia-listed Goodman Group will retain 51% and provide asset and property management services, it added.
Alek Misev, Aware Super's head of property, said the fund remains confident in the "strong long-term fundamentals of the U.S. industrial sector, with Los Angeles benefiting from limited supply and robust consumption patterns".
Goodman Group Chief Executive Gregory Goodman said the company's U.S. business represents over 37% of Goodman Group's offshore earnings as of June 30.
The U.S. industrial sector has been one of the top-performing logistics sectors, supported by the rise of onshoring and growth of e-commerce, which is likely to make up 21% of all U.S. retail sales by 2027, said Aware Super.
Write to Megan Cheah at megan.cheah@wsj.com
(END) Dow Jones Newswires
September 29, 2025 22:59 ET (02:59 GMT)
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