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TORONTO \u2014 Canada Pension Plan Investment Board says it has signed a partnership agreement with Goodman Group to establish a portfolio of European data centres.\u00a0<\/p>\n
CPP Investments\u2019 50 per cent share of the initial capital commitment comes in at about $1.8 billion.\u00a0<\/p>\n
The announcement marks CPP Investments\u2019 first data centre partnership in Europe, where the entities will look to develop projects in Amsterdam, Paris and Frankfurt, Germany. \u00a0\u00a0<\/p>\n
Max Biagosch, senior managing director and global head of real assets for CPP Investments, says the transaction could help the fund establish a strong European foothold in the data centre sector across key markets.\u00a0<\/p>\n
The transaction is subject to closing conditions and is expected to be completed by March next year. \u00a0\u00a0<\/p>\n
The move comes after the pension fund announced in July it would provide $225 million in funding for an Ontario data centre through a 50 per cent interest in a construction loan with Deutsche Bank Private Credit and Infrastructure.<\/p>\n
\u00a92025 The Canadian Press<\/strong><\/p>\n<\/p><\/div>\n