CPP Investments, Goodman Group Form $9.2 Billion European Data Centre Partnership

Canada Pension Plan Investment Board (CPP Investments) has signed an agreement with Goodman Group to establish a large-scale European data centre development partnership valued at approximately $9.2 billion (A$14 billion, €8 billion), marking CPP Investments’ first dedicated data centre platform in Europe.

The 50:50 joint venture, known as the Goodman European Data Centre Development Partnership (GEDCDP), will initially commit around $2.6 billion (A$3.9 billion, €2.2 billion) to develop a portfolio of hyperscale-ready data centre projects across Europe’s major FLAP markets — Frankfurt, London, Amsterdam and Paris.

The partnership’s initial portfolio comprises four data centre developments with a combined 435 megawatts of primary power capacity 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 access, planning approvals and advanced site infrastructure, enabling construction to begin by June 30, 2026.

CPP Investments said the partnership aligns with its global digital infrastructure strategy as demand accelerates for cloud computing, artificial intelligence workloads and data-intensive services. The fund has been expanding its exposure to data centres globally, citing long-term growth driven by enterprise digitalisation and AI adoption.

Goodman Group, which specialises in logistics and digital infrastructure development, said the partnership provides rare access to powered, permitted sites in Europe’s most capacity-constrained markets. The company highlighted the importance of speed-to-market as hyperscalers and large enterprises seek scalable infrastructure to support AI-driven workloads.

CPP Investments and Goodman Group have partnered since 2009 across multiple regions, including Australia, Asia and the Americas. The European data centre platform follows earlier collaborations in Hong Kong and Japan, further extending their long-standing global relationship.

The transaction will be completed in phases, with final settlement expected by March 2026, subject to customary closing conditions.