Ares Management and the Public Sector Pension Investment Board have established a new joint venture to invest up to $2.4 billion in logistics real estate opportunities in the United States. The partnership pairs Ares Real Estate’s vertically integrated logistics platform with PSP Investments’ scaled capital to target high-conviction markets.
The joint venture combines Ares Real Estate’s vertically integrated logistics investment capabilities and established sourcing network across its extensive footprint with PSP Investments’ scaled capital and shared conviction in the US logistics sector. It will target attractive, cash-flowing assets in high-growth markets and includes a 5.2 million-square-foot seed portfolio comprising 14 high-quality properties across key US industrial hubs, including California, Texas, and New Jersey.
Marq Logistics, which represents Ares Real Estate’s vertically integrated global logistics real estate platform and is a leader in the development and operation of modern logistics facilities, will lead sourcing and manage the assets within the joint venture. Marq Logistics manages a portfolio of over 2,250 properties totaling more than 655 million square feet globally.
Eastdil Secured Savills acted as financial advisor and Kirkland & Ellis acted as legal advisor to Ares. Cushman & Wakefield acted as financial advisor and Fried, Frank, Harris, Shriver & Jacobson acted as legal advisor to PSP Investments.
Ares Management is a global alternative investment manager with over $671 billion of assets under management as of June 30, 2026, operating across North America, South America, Europe, Asia Pacific, and the Middle East. PSP Investments is one of Canada’s largest pension investors, with C$320.6 billion of net assets under management as of March 31, 2026, managing a diversified global portfolio across capital markets, private equity, real estate, infrastructure, natural resources, and credit investments. Established in 1999, PSP Investments manages 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.
KEY QUOTES:
“This joint venture with a leading institutional investor like PSP Investments underscores the strong positioning that Ares has established across our U.S. logistics footprint. The acceleration of onshoring, buildout of digital infrastructure and growing influence of e-commerce continue strengthening the investment fundamentals for strategically placed logistics facilities. We are proud to expand Ares’ longstanding relationship with PSP Investments as we leverage our collective scale and experience to identify compelling deployment opportunities and deliver value for tenants, communities and investors.”
Dave Fazekas, Head of North America Logistics, Ares Real Estate
“Best-in-class operators, in sectors where our conviction is strongest, that is what our real estate strategy is built around, and this joint venture has both. The U.S. logistics sector benefits from durable demand drivers and structurally constrained supply in the submarkets that matter most. Partnering with Ares allows us to invest in high-quality assets at scale and alongside an operating platform with the capabilities to drive value at the asset level.”
Laurence Bastien, Managing Director, Real Estate Investments, Americas, PSP Investments
