Canada Pension Plan Investment Board and Goodman Group (ASX:GMG) announced the creation of a $14 billion European data centre partnership.
The 50/50 venture, named the Goodman European Data Centre Development Partnership, involves an initial capital commitment of $3.9 billion to develop a portfolio of projects in Frankfurt, Amsterdam, and Paris.
The partnership marks CPP Investments’ first data centre collaboration in Europe, adding significantly to its global digital infrastructure portfolio.
The initial portfolio includes four projects—Paris (PAR01 and PAR02), Frankfurt (FRA02), and Amsterdam (AMS01)—with a combined capacity of 435 MW of primary power and 282 MW of IT load.
All sites have secured power connections, planning permits, and advanced infrastructure, enabling construction to start by June 30, 2026.
Max Biagosch, Senior Managing Director & Global Head of Real Assets at CPP Investments, said the partnership "establishes a strong European foothold in the data centre sector across key Tier 1 markets," combining Goodman's development capabilities with CPP Investments’ expertise in digital infrastructure.
Greg Goodman, Group CEO of Goodman Group, highlighted the portfolio's strategic value in Europe's FLAP markets, citing growing demand for cloud computing and AI services.
The transaction is expected to settle in phases, with completion anticipated by March 2026, subject to closing conditions.