Key Takeaways
- • Ares Management and Canada's Public Sector Pension Investment Board (PSP Investments) have formed a joint venture with up to $2.4 billion in committed capital to develop and acquire U.S. logistics facilities.
- • The partnership leverages Ares' vertically integrated Marq Logistics platform combined with PSP's institutional capital to target high-conviction logistics markets across the United States.
- • The joint venture has already assembled a 5.2 million-square-foot seed portfolio comprising 14 assets located in California, Texas, and New Jersey—three of the most strategically significant U.S. logistics hubs.
- • Ares is capitalizing on three structural tailwinds: resurgent onshoring trends, digital infrastructure expansion, and sustained e-commerce demand, according to Dave Fazekas, head of North America logistics at Ares Real Estate.
- • The partnership combines a $670 billion private equity firm's operational logistics expertise with one of Canada's largest pension funds' patient, long-term capital, positioning the venture to acquire cash-flowing assets in high-growth markets.
Summary
Ares Management and the Public Sector Pension Investment Board (PSP Investments) announced on September 17, 2026, the formation of a joint venture capitalized with up to $2.4 billion to invest in U.S. logistics real estate. The partnership represents a strategic deepening of Ares' commitment to the domestic logistics sector by pairing its vertically integrated Marq Logistics platform with PSP's substantial institutional capital base. PSP Investments is one of Canada's largest pension funds, making it a significant anchor investor for the venture.
The joint venture will focus on developing and acquiring logistics facilities in what the partners characterize as "high-conviction markets" with strategically placed assets. The venture has already deployed its initial capital by acquiring a seed portfolio of 14 logistics properties totaling 5.2 million square feet across three key regional logistics hubs: California, Texas, and New Jersey. These markets represent some of the most liquidity and operationally significant U.S. logistics centers, positioned to capture both regional and national e-commerce and supply chain demand.
Dave Fazekas, head of North America logistics at Ares Real Estate, cited three primary market drivers motivating the venture's formation: resurgent onshoring trends as companies relocate manufacturing and distribution back to the United States, acceleration in digital infrastructure construction to support logistics automation and data centers, and the economy's persistent reliance on e-commerce fulfillment. These structural trends suggest sustained demand for modern, high-quality logistics facilities over the medium to long term.
The partnership structure leverages complementary strengths: Ares brings operational expertise, platform capabilities, and vertically integrated logistics management through Marq Logistics, while PSP contributes scaled institutional capital characteristic of large pension funds seeking long-duration, cash-flowing real assets. The $2.4 billion commitment provides significant deployment capacity to acquire additional assets and develop new facilities beyond the initial seed portfolio, positioning the venture as a meaningful player in the U.S. logistics real estate market.
The joint venture will focus on developing and acquiring logistics facilities in what the partners characterize as "high-conviction markets" with strategically placed assets. The venture has already deployed its initial capital by acquiring a seed portfolio of 14 logistics properties totaling 5.2 million square feet across three key regional logistics hubs: California, Texas, and New Jersey. These markets represent some of the most liquidity and operationally significant U.S. logistics centers, positioned to capture both regional and national e-commerce and supply chain demand.
Dave Fazekas, head of North America logistics at Ares Real Estate, cited three primary market drivers motivating the venture's formation: resurgent onshoring trends as companies relocate manufacturing and distribution back to the United States, acceleration in digital infrastructure construction to support logistics automation and data centers, and the economy's persistent reliance on e-commerce fulfillment. These structural trends suggest sustained demand for modern, high-quality logistics facilities over the medium to long term.
The partnership structure leverages complementary strengths: Ares brings operational expertise, platform capabilities, and vertically integrated logistics management through Marq Logistics, while PSP contributes scaled institutional capital characteristic of large pension funds seeking long-duration, cash-flowing real assets. The $2.4 billion commitment provides significant deployment capacity to acquire additional assets and develop new facilities beyond the initial seed portfolio, positioning the venture as a meaningful player in the U.S. logistics real estate market.
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