Goodman Group has created a E950m (£679m) European logistics fund by merging two of its existing funds.
Goodman announced the merger of its GELF fund with the Celogix Fund this morning. The company said that the enhanced GELF will comprise 45 assets across nine countries, up from 21 assets valued at E243m (£173m) at the end of September.
Bob Reidsma, Celogix fund manager said: ‘Since its launch seven years ago, Celogix has posted a total return of 13.9%. The merger with GELF serves to continue to deliver investors strong and stable returns.’
Peter Davies, GELF fund director said: ‘GELF is now one of the largest European logistics funds. Its increased size provides investors with greater diversification, economies of scale and an attractive return profile. We will continue to pursue new opportunities with the view to delivering above average returns to investors.’