The Canada Pension Plan Investment Board has signed an agreement to establish an €8-billion European data-centre partnership with Australia’s Goodman Group.

The 50/50 partnership involves an initial total capital commitment of €2.2 billion to develop a portfolio of data-centre projects in Frankfurt, Amsterdam and Paris. Known as the Goodman European Data Centre Development Partnership (GEDCDP), the venture represents CPPIB’s first data-centre partnership in Europe and significantly expands its global data-centre portfolio.

The partnership’s portfolio comprises four projects totalling 435 megawatts of primary power and 282 megawatts of IT load, including two sites in Paris (PAR01 and PAR02), one in Frankfurt (FRA02) and one in Amsterdam (AMS01). All projects have secured power connections, planning permits and substantially progressed site infrastructure works, enabling construction to commence by June 30, 2026.

“We are pleased to expand our longstanding partnership with Goodman Group and establish a strong European foothold in the data-centre sector across key Tier 1 markets, aligned with our global data-centre strategy,” said Max Biagosch, a senior managing partner and global head of real asssets at CPPIB. “By combining Goodman’s extensive development capabilities and powered landbank, with our global expertise in digital-infrastructure investments, this partnership allows us to capitalize on a compelling growth opportunity for the long-term benefit of CPP contributors and beneficiaries.”

Goodman Group CEO Greg Goodman said a portfolio of its size and quality in Europe’s FLAP markets is rare.

“hese powered locations are highly sought-after to meet the rapidly growing requirement for cloud computing and AI adoption, particularly when they offer speed to market and delivery certainty,” he said. “The quality and scale of this partnership make it ideal for our long-term relationship with [CPPIB]. We’re pleased to be investing alongside them for their entry into the European data-centre market.”

CPPIB has partnered with Goodman Group since 2009 across Australia, Asia, the Americas and Europe. The European partnership follows the establishment of the Goodman Hong Kong Data Centre Partnership, as well as other data-centre partnerships in Europe and Japan.

The transaction is expected to settle in phases and be completed by March 2026, subject to customary closing conditions.

Goodman Group is a global provider of essential infrastructure, owning, developing and managing logistics properties and data centres in major cities worldwide. The Australia-based company operates across Australia, New Zealand, Asia, Europe, the United Kingdom and the Americas and is one of the largest listed specialist investment managers of industrial property globally.

Pictured: Frankurt

Photo: CNW Group/CPPIB

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