Cambridge trust optimistic about new sponsor
Acting CEO hopes to leverage e-Shang Redwood's experience in logistics; trust's DPU fell 12.9% for FY16
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Singapore
WARBURG Pincus unit e-Shang Redwood will be a good sponsor for Cambridge Industrial Trust (CIT), given its vast experience and contacts in the logistics and e-commerce sector, acting CEO of the trust manager Shane Hagan told reporters in an earnings call on Wednesday.
In fact, he prefers this new sponsor to the previous one, which "didn't have anything from a real estate perspective to offer", he said.
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