has raised US$1.8bn (鈧�1.7bn) for a Europe and US logistics fund fully seeded with US$4.3bn worth of assets.
The property investment arm of Singapore鈥檚 state investment fund said the MUSEL Private Trust鈥檚 assets comprise a portfolio of 262 logistics assets across 26 states in the US and 20 cities across seven European countries which include Poland, France, Germany and Spain.
said the fundraising was supported by a geographically diversified investor base of institutional, corporate and high net worth investors.
Mapletree Investments said it will retain a 34% stake in MUSEL, which will be by Mapletree Real Estate Advisors.
Hiew Yoon Khong, Mapletree鈥檚 CEO said despite the challenging macroeconomic global outlook, investors are attracted to the 鈥渞obust fundamentals of the logistics sector and resilience of our high-quality, income-producing logistics portfolio across the US and Europe鈥�.
鈥淥ur success in syndicating this fund is testament to the strong confidence that investors have in Mapletree鈥檚 capital management and global real estate capabilities.
鈥滶ven with the current backdrop of economic uncertainty, the group expects the portfolio to generate stable dividends and attractive total returns.鈥�
MUSEL follows a series of other funds that Mapletree has set up in the commercial sector in Australia and student accommodation sectors in the UK and the US over the last three years.
Mapletree said it will continue to originate investment products and syndicate new funds to grow its capital management business and fulfill the demand of its investors.
