Sixth Street and Copley Point Announce Joint Venture for UK Industrial Real Estate

Sixth Street, a leading global investment firm, and Copley Point Capital Limited (“Copley Point”), an owner and operator of UK industrial property, today announced the closing of a new joint venture targeting high-quality, mission-critical industrial real estate in established and supply-constrained logistics markets across the United Kingdom. The joint venture has signed definitive agreements on an initial £180m of transactions. Sixth Street and Copley Point intend to grow the joint venture further through both single-asset and portfolio acquisitions across the UK.

Michael Heal, Founder of Copley Point, said: “We are excited to announce a significant expansion of our Block Industrial program alongside Sixth Street. Their scale, reputation, and deep real estate sector knowledge will complement our specialised experience and proven ability to create value at the asset level. The new venture is an endorsement of the business my team and I have built in the past five years. Sixth Street brings significant access to capital and is flexible to duration, which we believe is a major differentiator as we appraise opportunities with our counterparties.”

Giulio Passanisi, Managing Director and Head of European Real Estate at Sixth Street said: “Mike and the Copley Point team have a strong reputation in the UK market and we look forward to working together as we grow this platform. The industrial real estate sector in the UK remains supply constrained, even as it continues to benefit from strong underlying secular trends driven by increasing e-commerce penetration and onshoring of national supply chains, and we look forward to evaluating opportunities to offer our scale, expertise, and flexibility to address those capital needs.” BCLP, PwC, Jones Hargreaves and SLR advised the joint venture on its initial transactions. Ropes & Gray advised Sixth Street on the establishment of the joint venture. CBRE advised Copley Point on identifying capital partners and the formation of the joint venture. Gowling acted as Copley Point’s legal adviser