KingSett Capital and UPP form strategic partnership to invest in Canadian industrial real estate 

KingSett Capital (“KingSett”) and University Pension Plan Ontario (“UPP”) today announced a strategic partnership to invest in income-generating industrial real estate assets across Canada’s major urban markets. The partnership will focus on acquiring multi-tenant, light industrial buildings in supply-constrained markets, taking a selective approach to assets where active management can enhance long-term value creation.

Canada’s industrial sector continues to benefit from structural tailwinds, including evolving supply chains, population growth, and limited availability. These factors support resilient demand and rental growth across key markets. Industrial assets also play a critical role in enabling efficient distribution and logistics networks across Canada.

This partnership is the first of its kind for KingSett and builds on UPP’s targeted exposure to industrial real estate, further diversifying its portfolio while increasing allocation to income-generating assets. As UPP continues to evolve its real estate portfolio, it remains focused on investments that enhance diversification, manage risk, and deliver durable returns to support the delivery of pensions over the long term.

“We are thrilled to partner with KingSett to establish a dedicated Canadian industrial strategy aligned with our goal of building a resilient real estate portfolio focused on value creation over the long term,” said Peter Martin Larsen, Senior Managing Director, Head of Private Markets at UPP. “This investment is designed to provide exposure to industrial assets, such as warehousing and light manufacturing facilities in close proximity to urban centres, underpinned by strong domestic demand and attractive inflation protection. Through this partnership, we are selectively deepening our position in a sector supported by strong fundamentals, enhancing our ability to deliver secure, stable pensions for our members. KingSett brings deep expertise across market cycles, a long-standing presence in Canada’s major industrial hubs, and a proven track record of creating value through active asset management.”

Over the past 24 years, KingSett’s total transaction volume involving industrial assets exceeds $13 billion. By acquiring and owning individual properties over this period, KingSett has gained direct and specific insight into asset performance and evolving trends in industrial real estate.

“We are delighted to begin a long-term strategic partnership with UPP and grateful for their support,” said Rob Kumer, CEO of KingSett Capital. “The Canadian industrial sector is at an inflection point: Investors, developers and tenants are adjusting to an evolving trade relationship with the US, new supply chains, and the need to improve efficiencies to remain competitive in this environment. KingSett is well positioned to leverage our relationships, scale and platform to navigate this environment and build a portfolio of industrial properties designed to deliver sustainable premium risk-weighted returns for UPP.” 

“This partnership, which complements the balance of our existing fund strategies, marks an important milestone for KingSett. We are introducing a highly customized investment solution that is designed to meet the specific needs and objectives of an institutional investor like UPP. We are aiming to expand on this type of program as an important differentiator for our investor-partners and as a driver of growth for KingSett in the years to come,” added Mr. Kumer.