US warehouse giant ProLogis is under fire in Europe, where a big investor in one of its funds is demanding corporate-governance changes ahead of a key shareholder vote.

Dutch pension fund APG Group has sent a letter to fellow shareholders in ProLogis European Properties urging them to block a possible attempt by ProLogis European to raise additional equity unless the fund allows shareholders to change its manager through a vote.

ProLogis European is managed by ProLogis, a Denver-based real-estate investment trust that created ProLogis European as a fund in 1999 and took it public in 2006.

Wall Street Journal