Canada Pension Plan Investment Board (CPP Investments) has signed an agreement to establish an USD 9.3 billion (EUR 8 billion) European data center partnership with Goodman Group. The 50/50 partnership involves an initial total capital commitment of USD 2.6 billion (EUR 2.2 billion) to develop a portfolio of data center projects in Frankfurt, Amsterdam, and Paris.

Partnership Structure and Portfolio Details

The Goodman European Data Center Development Partnership (GEDCDP, or the Partnership) represents CPP Investments' first data center partnership in Europe, significantly expanding its data center portfolio. The Partnership's portfolio comprises four projects totalling 435 MW of primary power and 282 MW of IT load across three major European markets.

The portfolio includes projects in Paris (PAR01 and PAR02), Frankfurt (FRA02), and Amsterdam (AMS01). All projects provide speed to market with secured power connections, planning permits, and substantially progressed site infrastructure works, enabling construction commencements by 30 June 2026.

Strategic Positioning in European Markets

Max Biagosch, Senior Managing Director & Global Head of Real Assets for CPP Investments, stated that the partnership allows them to expand their longstanding relationship with Goodman Group and establish a strong European foothold in the data center sector across key Tier 1 markets. He emphasized that the partnership aligns with CPP Investments' global data center strategy and combines Goodman's extensive development capabilities and powered landbank with CPP Investments' global expertise in digital infrastructure investments.

Group CEO of Goodman Group, Greg Goodman, described the portfolio as rare in terms of size and quality, noting its location in Europe's FLAP markets. He highlighted that these 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.

Long-term Partnership History and Implementation Timeline

CPP Investments has partnered with Goodman Group since 2009 across Australia, Asia, the Americas, and Europe. GEDCDP follows the establishment of the Goodman Hong Kong Data Centre Partnership and other data center partnerships in Europe and Japan. The transaction will settle in phases and is expected to be completed by March 2026, subject to closing conditions. The announcement was made on December 22, 2025, marking a significant expansion of both companies' presence in the European data center market.

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