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

London UK, November 13, 2024 – 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.

About Sixth Street

Sixth Street is a global investment firm with over $80 billion in assets under management and committed capital. The firm’s dedicated London-based real estate team partners with property managers and institutional investors to acquire, finance, and provide servicing expertise across the global real estate sector. Sixth Street uses its long-term flexible capital, data-enabled capabilities, and One Team culture to develop themes and offer solutions to companies across all stages of growth. Founded in 2009, Sixth Street has more than 650 team members including over 200 investment professionals operating around the world. For more information, follow Sixth Street on social media and visit www.sixthstreet.com.

About Copley Point

Founded in 2019, Copley Point is a specialised principal investor and asset manager of UK real estate and related real assets. It manages more than £500 million of assets through a series of joint ventures and platforms where it is invested alongside institutional investors. The firm’s UK industrial property platform, Block Industrial, is specialised in mid and large box deals. Since the inception of the platform in 2020 it has partnered with groups like Brookfield and Davidson Kempner. Copley Point is also a significant investor in the energy transition of UK property through its large shareholding in heat electrification specialist, Rendesco. More information is available at www.copleypoint.com.