Industrial and logistics giant ESR has acquired the remaining interest in fellow Asia Pacific-focused LOGOS, bringing together total assets under management of about $238 billion.
ESR, which will remain the brand name for the combined entity, said it had acquired the remaining 13.6 per cent from the LOGOS co-founders.
LOGOS co-founder and joint chief executive John Marsh will become chair of the combined infrastructure business, as well as the combined Australia-New Zealand. He also joins the ESR Group Investment Committee.
Trent Iliffe—also a co-founder and joint chief executive—will remain with the group as a consultant for six months, before pursuing new endeavours.
ESR said the agreements accelerate the acquisition from the original January 2025 target, bringing forward the benefits of a fully integrated platform for the company and its key stakeholders.
The deal cemented ESR’s new economy position in Asia-Pacific, with a combined $108 billion in assets under management, and a current workbook of about $21.4 billion growing data centres and infrastructure platforms.
ESR said in a statement the deal gave the company market-leading positions in major markets, including Australia and New Zealand, Japan, South Korea, Greater China, Southeast Asia and India.
ESR’s own co-founders and joint chief executives Stuart Gibson and Jeffrey Shen said the combined company would unleash the full potential of their fund management and development platform, spanning various sectors and geographies.
“Coupled with our growth engines in logistics, data centres, infrastructure and life sciences, our integrated platform further enables us to deliver exciting opportunities for our people, partners, investors, customers, and the communities where we operate.”
ESR Group is listed on the Hong Kong Stock Exchange.
