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The real estate arm of Canada's second-largest pension fund manager is looking at India's logistics sector following the announcement this week of its first investment in the country for more than six years, President Daniel Fournier said on Friday. Ivanhoe Cambridge, the real estate unit of Caisse de depot et placement du Quebec, announced a USD 250 million residential investment in India on Thursday, the first in the country since Fournier was put in charge of the division in 2010. "We're starting with multi-residential opportunities, so let's see where it takes us," Fournier said in an interview on the sidelines of a media conference at the Caisse in Montreal.
"Logistics ... could be the next one." India's real estate logistics sector, which includes warehouses, distribution centers, and other services, is being fuelled by the production of automotive components, textiles, and pharmaceuticals, according to a research report by the real estate investment firm JLL.
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