Ares and PSP Investments Formed Logistics Venture

The two firms launched a $2.4 billion partnership focused on acquiring and managing U.S. logistics properties.

Updated on Sept. 19, 2026 in Commercial

Gouache-painted illustration of industrial warehouse structures and shipping containers in muted earthy tones, representing U.S. logistics real estate investment. — Ares Management and PSP Investments have partnered in a $2.4 billion joint venture focused on acquiring and managing logistics properties throughout the United States. AI Illustration. Upload story photo >

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Is now a good time for major investors to increase their bets on U.S. logistics infrastructure?

Ares Management and PSP Investments have established a $2.4 billion joint venture targeting logistics real estate across the United States. The initiative launched with an initial portfolio of 14 properties totaling 5 million square feet.

Why it matters

The investment strategy leverages ongoing trends in onshoring and e-commerce growth to capitalize on a U.S. logistics market defined by high demand and limited supply. By focusing on cash-flowing assets in high-growth areas, the venture aims to secure stable returns in a constrained industrial sector.

The joint venture launched with 14 properties spanning 5 million square feet, while Ares also acquired a 10-property industrial portfolio in Chicago for $84 million. This represents approximately $117 per square foot for the Chicago assets.

The players

Ares Management

Ares Management is a global alternative investment manager that oversaw over $671 billion in assets as of the second quarter of 2026.

PSP Investments

PSP Investments is one of Canada's largest pension investment managers and acts as a partner in this logistics real estate venture.

Marq Logistics

Marq Logistics is the firm selected to source and manage the properties included in the new joint venture portfolio.

The details

Marq Logistics has been tapped to oversee the sourcing and management of the venture's assets. The initiative complements separate investment activity by Ares, which recently purchased 717,000 square feet of industrial space in Chicago.

The Chicago industrial portfolio was assembled between 2020 and 2022.
Ares reported $671 billion in assets under management during the second quarter of 2026.
The U.S. industrial vacancy rate stood at 6.5 percent in the second quarter of 2026.
The joint venture was officially announced on September 18, 2026.

Culture Shift

This joint venture reflects the long-term trend of prioritizing domestic logistics infrastructure to support onshoring and digital commerce. It follows the pattern of increased capital allocation toward domestic supply chain assets driven by the rise of onshoring and digital infrastructure development.

The formation of this venture suggests continued institutional interest in large-scale industrial real estate, which may influence development timelines and property availability in high-growth hubs. Businesses and local stakeholders should monitor how these asset managers prioritize specific regional markets for future acquisition.

The takeaway

The move underscores how large-scale investment firms are positioning capital to capture durable demand within the American industrial sector. Investors and industry observers should view this as a commitment to long-term growth in supply chain infrastructure despite current market vacancy levels.