KingSett, UPP Partner on Canadian Industrial Properties

Toronto private equity real estate firm KingSett Capital and the University Pension Plan Ontario have formed a new partnership to invest in industrial properties across Canada.

The agreement, announced Wednesday, targets multitenant light industrial buildings in supply-constrained markets. Executives from both organizations described the venture as a strategic move to capitalize on robust sector fundamentals amid shifting economic dynamics.

The University Pension Plan Ontario, known as UPP, serves employers and employees in the province's university sector. Peter Martin Larsen, UPP's senior managing director and head of private markets, said the partnership allows the fund to selectively deepen its holdings in industrial real estate. "The fund is selectively deepening its position in a sector supported by strong fundamentals," Larsen stated. He added that the deal builds on UPP's existing exposure to the asset class, enhancing portfolio diversification and boosting allocations to income-generating investments.

KingSett Capital, a major player in Canadian real estate private equity, will collaborate with UPP to pursue opportunities in this niche. Rob Kumer, KingSett's chief...