$219 Billion Canada Public Sector Pension Investment Board (PSP Investments) to Invest $522 Million (AUD 800 Million) into Australia Property Development & Investment Company Aliro Group Flagship Open-Ended Industrial Vehicle (Aliro Group Industrial Vehicle, AGIV) Launched in 2018, AGIV Investors are Clients of CBRE Investment Management Indirect Private Real Estate Strategy (CBRE IM Indirect)
21st July | Hong Kong
Canada Public Sector Pension Investment Board (PSP Investments) with $219 billion AUM has announced to invest $522 million (AUD 800 million) into Australia property development & investment company Aliro Group flagship open-ended industrial vehicle (Aliro Group Industrial Vehicle, AGIV) launched in 2018. AGIV investors are clients of CBRE Investment Management Indirect Private Real Estate Strategy (CBRE IM Indirect). Announcement (21/7/25): “The Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investors, has committed a significant investment of up to A$800m into the Aliro Group Industrial Vehicle (AGIV), providing the investment vehicle with substantial capacity for new acquisitions in the Australian industrial sector. PSP Investments will partner with Aliro Group, an Australian property development, investment and funds management group, and joins the initial cornerstone investor into AGIV – the clients of CBRE Investment Management’s Indirect Private Real Estate Strategy (CBRE IM Indirect). The transaction reinforces the appeal of AGIV’s high quality portfolio, development pipeline and Aliro Group’s experience as an institutional manager of choice. PSP Investments is an established global investor with net assets under management totalling C$299.7 billion as of 31 March 2025 and a strong presence in Australia across multiple asset classes. PSP Investments will acquire an initial interest in AGIV in addition to providing significant growth capital. The transaction aligns with PSP Investments’ focus on establishing joint ventures with best-in-class partners and will support AGIV in leveraging strong market conditions to acquire, manage and develop prime institutional-grade assets across key eastern seaboard locations and supply-constrained infill areas. Established in 2018, AGIV is Aliro Group’s flagship open-ended industrial vehicle. AGIV outperformed during its first 5-year investment period, targeting core plus returns by investing in and creating high-quality assets in core locations. Its A$2.2bn (on completion) portfolio spans 12 assets across Australia’s eastern seaboard, including high-quality estates in Caringbah, NSW, Dandenong South, VIC, Tottenham, VIC and Geebung, QLD. AGIV is a 2024 Global Real Estate Sustainability Benchmark (GRESB) Sector and Regional Leader and recently upsized its A$1.30bn capacity Sustainability Linked Loan, reinforcing its value proposition as a long-term vehicle of choice for institutional investors.
“ $219 Billion Canada Public Sector Pension Investment Board (PSP Investments) to Invest $522 Million (AUD 800 Million) into Australia Property Development & Investment Company Aliro Group Flagship Open-Ended Industrial Vehicle (Aliro Group Industrial Vehicle, AGIV) Launched in 2018, AGIV Investors are Clients of CBRE Investment Management Indirect Private Real Estate Strategy (CBRE IM Indirect) “
Stephane Jalbert, Managing Director, Head of Europe and Asia-Pacific at PSP Investments: “PSP Investments is delighted to partner with Aliro Group and CBRE IM on this logistics portfolio. This investment gives us immediate scale and access to a high-quality portfolio and development pipeline, complementing our already extensive investment portfolio in Australia, and aligning with PSP Investments’ Real Estate global sector convictions.”
David Southon, Co-Founder and Executive Chairman at Aliro Group: “Welcoming PSP Investments as another cornerstone investor in AGIV, alongside our existing and highly valued investors who are clients of CBRE IM’s Indirect business, marks a significant milestone for the vehicle and Aliro Group. With our new partner’s global standing and long-term investment mindset, they are an aligned and strategic fit. The enlarged partnership strengthens our ability to scale with discipline, whilst leveraging the momentum we have generated in the build-up of AGIVs high quality portfolio and the outperformance already delivered for our existing investors.”
Co-Founder, Managing Director and CEO at Aliro Group, Daniel Wise: “We’re pleased to see continued growth with our flagship vehicle, which reflects the strong demand for industrial specific strategies in the Australian market. As we look ahead, we foresee further opportunities that align with Aliro’s growth trajectory and our commitment to disciplined, sustainable investment practices. This partnership further strengthens our ability to identify and execute on high-calibre investments, ensuring we continue to access and deliver enduring value for our customers.”
Alex Crossing, Head of APAC for CBRE IM’s Indirect business: “Working with the Aliro Group on AGIV since 2018 has given our clients access to a high-quality portfolio in preferred submarkets across eastern Australia. Industrial and logistics real estate has long been a preferred investment theme in the Asia Pacific. We believe the addition of PSP Investments’ capital will further enhance the diversification and scale of this vehicle for the benefit of all investors. We look forward to continue supporting AGIV’s growth over time.”
Stuart McCann, Head of CBRE Capital Advisors – Pacific & SEA and Alex Rouse, Head of Real Estate, ANZ from Macquarie Capital: “Aliro Group has built a differentiated platform that continues to attract best-in-class institutional capital. This transaction demonstrates continued interest in the Australian industrial market as capitalisation rates have stabilised and low vacancy, strong demand drivers and lagging supply, particularly in infill locations, continue to support rental and capital value growth.”
PSP Investments – The Public Sector Pension Investment Board (PSP Investments) is one of Canada’s largest pension investors with C$299.7 billion of net assets under management as of 31 March 2025. It manages a diversified global portfolio composed of investments in capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages and invests amounts transferred to it by the Government of Canada for the pension plans of the federal public service, the Canadian Forces, the Royal Canadian Mounted Police and the Reserve Force. Headquartered in Ottawa, PSP Investments has its principal business office in Montréal and offices in New York, London and Hong Kong.
Aliro Group – Aliro Group (www.aliro.com.au) is a property development, investment and funds management group that works with a diverse range of institutional and wholesale capital partners to establish, grow and actively manage sector specific property funds — delivering enduring value for its investment partners. Specialising in the creation of income producing, investment grade real estate, Aliro currently has a pathway to A$6.0bn of AUM across the Eastern States of Australia. Founded by David Southon and Daniel Wise, Aliro enjoys deep industry relationships and embodies entrepreneurial vision, sound judgement, deep market knowledge, high integrity and agility.
CBRE Investment Management – CBRE Investment Management is a leading global real assets investment management firm with US$149.1 billion in assets under management* as of March 31, 2025, operating in 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive. CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients.
CBRE Group – CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
Macquarie Capital – Macquarie Capital is the advisory, capital markets and principal investment arm of Macquarie Group. It encompasses corporate advisory, a full spectrum of capital solutions, including capital raising services from equity, debt and private capital markets and principal investments from Macquarie’s balance sheet. Macquarie Capital has deep sector expertise in the aerospace, defense and government services, consumer, gaming and leisure, critical minerals, energy, financial institutions, healthcare, industrials, infrastructure, real estate, services, software, technology, telecommunications and media sectors.
$219 Billion Canada Public Sector Pension Investment Board (PSP Investments) to Invest $522 Million (AUD 800 Million) into Australia Property Development & Investment Company Aliro Group Flagship Open-Ended Industrial Vehicle (Aliro Group Industrial Vehicle, AGIV) Launched in 2018, AGIV Investors are Clients of CBRE Investment Management Indirect Private Real Estate Strategy (CBRE IM Indirect)
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