On November 1, OMERS acted as sole cornerstone investor in the IPO of ESR Cayman Ltd (“ESR”) – the C$760 million purchase represented a 9% equity stake of ESR, the largest Asia Pacific-focused real estate logistics platform with operations in China, South Korea, Japan, India, Singapore and Australia. The company develops modern facilities that cater to e-commerce, 3PL, bricks-and-mortar retailers, manufacturers and cold-chain logistics providers.
This investment is directly in line with OMERS strategy to increase investment in Asia Pacific, Oxford’s view on the attractiveness of the industrial sector, and our on-going efforts to partner with best-in-class global organizations.
The US$1.6 billion IPO represents the largest real estate IPO in Asia Pacific since 2015 and largest real estate IPO globally since 2017.
The Oxford and Capital Markets teams worked together on this transaction, demonstrating the competitive advantage of operating as one OMERS and helping to drive an impactful outcome for OMERS members.