This week, New York’s GreenPoint Partners, a private real assets investment firm, announced the successful close of its first real assets technology fund at $134 million in investor commitments, along with the platform’s first investment, in UK last-mile logistics firm Infinium Logistics.
GreenPoint’s Technology Fund will invest in high-growth companies underpinning the digital transformation of multitrillion-dollar real asset industries: real estate, infrastructure, energy and agriculture. GreenPoint has partnered with several real asset investors, operators and developers who collectively own and manage over $500 billion of real assets globally, with an additional $125 billion development pipeline. Several Limited Partners have allocated additional equity to pursue co-investment opportunities alongside the fund, bringing its total investable capital to around $200 million.
Initial investors in the fund include Canada’s Public Sector Pension Investment Board (PSP Investments), Goodman Group, Ivanhoé Cambridge, Lendlease, Greystar, Berkshire Residential Investments, Charter Hall, Kloof Capital, Gandel Group, and the George Krupp Family Office.
“As a global and multi-sector, long-term real estate investor, we are focused on the consequences of technology change for our portfolio and investment strategy,” said Stéphane Jalbert, Managing Director, Head of Asia-Pacific and Europe, Real Estate Investments at PSP Investments, a Canadian pension investment manager with CAD 204.5 billion of assets. “PSP Investments is pleased to support GreenPoint as the lead investor in their Tech Fund. GreenPoint brings together a very unique perspective across the disparate worlds of technology and real estate, enabling us to leverage these insights and access innovative technology solutions.”
“By investing in GreenPoint’s Technology Fund, alongside other leaders in the real estate industry, Ivanhoé Cambridge strengthens its partnership strategy, maximizes value creation and fosters market intelligence transfer,” said Sylvain Fortier, Chief Investment and Innovation Officer at Ivanhoé Cambridge. “This investment will allow us to stay first-class investors and owners, participate into the acceleration of digitalization of the real estate industry, access and implement innovative PropTech solution in our portfolio to ultimately generate sustainable growth.”
The private equity strategy’s inaugural investment is in Infinium Logistics, a European final mile logistics platform at the forefront of decarbonization, advanced fulfillment, delivery and parking solutions. The GreenPoint investment combines growth capital for Infinium’s operating platform along with funding to acquire strategic final mile logistics assets across Europe. Infinium currently manages around 30 sites across Europe and is targeting a GBP 500 million portfolio of owned assets across Europe with full electrification infrastructure.
GreenPoint partnered with GCM Grosvenor on behalf of two large U.S. public pension plans, along with Kloof Capital and affiliates on the Infinium investment.
“The increasing pervasiveness of technology and ESG trends is pressuring real asset digitization and technology adoption to catch up to other industries,” GreenPoint Founder and CEO Chris Green said. “While the opportunities from this transition are vast, the knowledge gap and lack of integration makes this a challenging process. We believe that the winners from this transition will be digitally and sustainability-aware real asset owners/developers as well as the technology companies that can effectively deliver requisite solutions. We are excited to announce these firm milestones as we continue building the ecosystem that can facilitate success for both the real asset and technology participants.”
To date, GreenPoint has invested in 16 market-leading companies including Built Technologies, OpenSpace, Envizi, ility, Fetch Package, Snapdocs and Relay Payments. The firm will continue to navigate complementary investment opportunities across technology and real assets.