Public Sector Pension Investment Board (PSP Investments), one of Canada’s largest pension investment managers, has committed up to A$800 million (about $521 million) to the flagship industrial vehicle of Australian property developer and investment firm Aliro Group.
The commitment to Aliro Group Industrial Vehicle (AGIV) expands PSP Investments’ exposure to Australia’s industrial real estate market, joining CBRE Investment Management’s Indirect Private Real Estate Strategy as a cornerstone investor in the open-ended vehicle.
“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”, said Stephane Jalbert, managing director, head of Europe and Asia-Pacific at PSP Investments.
PSP Investments will acquire an initial interest in AGIV and provide growth capital, according to the announcement.
Established in 2018, AGIV has a portfolio of 12 assets valued at A$2.2 billion upon completion. Properties include estates in Caringbah (NSW), Dandenong South (VIC), Tottenham (VIC), and Geebung (QLD).
The vehicle targets core-plus returns and holds a Global Real Estate Sustainability Benchmark (GRESB) Sector and Regional Leader title.
AGIV recently upsized its A$1.3 billion Sustainability Linked Loan, supporting its long-term positioning as a preferred vehicle for institutional investors.
“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,” said Daniel Wise, co-founder, managing director, and CEO at Aliro Group.
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.
