Mapletree lands over US$500M in first close for emerging Asia logistics fund
What's the deal? Mapletree InvestmentsDealroom has a profile for this one. Try Dealroom → has secured more than US$500 million in equity commitments for the first close of its Mapletree Emerging Growth Asia Logistics Private Trust (Mega). That comprises US$250 million from the fund's first close and more than US$250 million raised through a joint venture and direct co-investments into Malaysian projects.
Who's in? Investors include sovereign wealth funds, a pension fund, and a national investment company, the Singapore-based asset manager said on September 1. Mega is targeting an additional US$200 million for a second close by early next year.
What's the endgame? The fund invests in logistics developments across Malaysia, Vietnam, and India, with a target allocation of about 40% each to Malaysia and Vietnam and 20% to India. It aims to deliver an internal rate of return above the mid-teens.
Why now? Mapletree points to rising domestic consumption, manufacturing activity, and supply chain diversification driving demand for modern logistics facilities in the region — amid a structural shortage of institutional-grade space.
By the numbers: Mega already has a seeded portfolio of four development projects in Malaysia, one in India, and two warehouses in Vietnam. When fully deployed, the fund, joint venture, and co-investments are expected to hold assets with a total investment value of US$2.1 billion.
The signal: Mega is the latest in Mapletree's series of logistics development private funds, following syndicated vehicles in China and Japan. Logistics is its largest asset class at about 43% of group assets under management, or S$32.4 billion — a bet it is now extending across emerging Asia.
Read more: businesstimes.com.sg
Image credit: Aaron Volkening
