Ares Management Venture to Invest $2.4B in Logistics Assets
Ares Management Corp. has formed a joint venture with Canadian pension fund Public Sector Pension Investment Board to pour capital into premium logistics opportunities in the U.S.
The two investors plan to spend as much as $2.4 billion under the initiative, targeting high-growth markets with assets that produce strong cash flow. Included in the investment is a 14-property, 5.2 million-square-foot seed portfolio that spans across Texas, New Jersey and California.
It's unclear what other U.S. markets will be targeted.
Laurence Bastien, managing director of real estate investments, Americas at PSP Investments, saidthat the partnership comes as the U.S. industrial sector faces tailwinds from limited supply and "durable" demand.
Interestingly, a National Association of Realtors' September 2026 Commercial Real Estate Market Insights Report found that while construction is exceeding demand in industrial— logistics is standing out and accounting for the bulk of the annual absorption in the space. The subtype is key for moving goods through regional and national supply chains.
"The acceleration of onshoring, buildout of digital infrastructure and growing influence of e-commerce continue strengthening the investment fundamentals for strategically placed logistics facilities," Dave Fazekas, head of North America logistics for Ares, said in a statement.
"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."
Under the JV, Marq Logistics, which represents Ares, will manage the properties and lead the sourcing. Ares, through its Industrial Real Estate Income Trust, manages $10.7 billion in asset values across 276 buildings that are 90 percent leased.
PSP is known as one of Canada's largest pension investors, with a major concentration in real estate assets.
On the JV, Ares received financial advisement from Eastdil Secured Savills and legal services from Kirkland & Ellis LLP. PSP got financial advisement from Cushman & Wakefield and legal representation from Fried, Frank, Harris, Shriver & Jacobson LLP.
Source: GlobeSt/ALM