Sixth Street, an $80bn (£63bn) AUM investment firm, has teamed up with industrial real estate specialist Copley Point Capital on a UK logistics joint venture that already has £180m of deals in the pipeline.
The pair will target single-asset and portfolio deals. Giulio Passanisi, Sixth Street’s head of European real estate, said the UK’s industrials market “remains supply constrained, even as it continues to benefit from strong underlying secular trends driven by increasing e-commerce penetration and onshoring of national supply chains”.
The partnership will build on Copley Point’s industrial property platform, Block Industrial, which specialises in mid and large-box deals. Since the creation of that platform in 2020, it has partnered with groups including Brookfield and Davidson Kempner.
BCLP, PwC, Jones Hargreaves and SLR advised the joint venture on its initial transactions. Ropes & Gray advised Sixth Street on the joint venture, while CBRE advised Copley Point. Gowling acted as Copley Point’s legal adviser.
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