Ares and PSP Investments Launch $2.4B U.S. Logistics Partnership

Ares Management Corporation and the Public Sector Pension Investment Board (PSP Investments) have established a joint venture to invest up to $2.4 billion in U.S. logistics real estate. The partnership combines Ares Real Estate’s vertically integrated logistics platform with PSP Investments’ scaled capital, targeting high-conviction markets for cash-flowing assets. This move reflects a strategic alignment between an alternative asset manager and a major Canadian pension investor to capitalize on structural demand drivers in the industrial sector.

The joint venture will be led by Marq Logistics, Ares Real Estate’s global logistics platform, which will handle sourcing and asset management. The initial deployment includes a 5.2 million-square-foot seed portfolio comprising 14 high-quality properties. These assets are located across key U.S. industrial hubs, including California, Texas, and New Jersey, positioning the partnership to leverage Ares’ established sourcing network and PSP Investments’ long-term capital structure.

Seed Portfolio Targets High-Growth Hubs

The partnership focuses on acquiring attractive, cash-flowing assets in submarkets characterized by durable demand and structurally constrained supply. Marq Logistics, which manages a portfolio of over 2,250 properties totaling more than 655 million square feet, will direct operations within the joint venture. This approach allows the investors to utilize Ares’ extensive footprint and operational capabilities to identify compelling deployment opportunities. The strategy emphasizes value creation at the asset level through active management and strategic placement in high-growth regions.

Institutional Alignment Drives Capital Deployment

PSP Investments views this collaboration as a core component of its real estate strategy, focusing on best-in-class operators in sectors where conviction is strongest. Laurence Bastien, Managing Director of Real Estate Investments for the Americas at PSP Investments, noted that the U.S. logistics sector benefits from durable demand drivers. The partnership enables PSP Investments to invest in high-quality assets at scale alongside an operating platform with the capabilities to drive value. Ares Management Corporation, which reported over $671 billion in assets under management as of June 30, 2026, leverages this joint venture to expand its longstanding relationship with institutional investors.

Operational Leadership and Advisory Support

Dave Fazekas, Head of North America Logistics at Ares Real Estate, stated that the joint venture underscores the strong positioning Ares has established across its U.S. logistics footprint. He cited the acceleration of onshoring, the buildout of digital infrastructure, and the growing influence of e-commerce as key factors strengthening investment fundamentals. Eastdil Secured Savills and Kirkland & Ellis LLP acted as financial and legal advisors to Ares, while Cushman & Wakefield and Fried, Frank, Harris, Shriver & Jacobson LLP advised PSP Investments. The structure ensures that both parties have the necessary professional support to execute their investment mandates effectively.