TORONTO — The Canada Pension Plan Investment Board says it is selling its stake in a logistics investment partnership it established with Australia’s Goodman Group.
CPP Investments says it will realize about US$2.2 billion in net proceeds from its investment in Goodman North American Partnership.
The partnership was established in 2012 with a mandate to invest in high-quality logistics and industrial property in key North American markets.
CPP Investments owned a 45 per cent stake, while Goodman Group held 55 per cent ownership.
Max Biagosch, global head of real assets and head of Europe for CPP Investments, says the sale of the stake is an opportunity to lock in strong returns for the CPP Fund and redeploy capital towards new investment opportunities.
Goodman and CPP Investments retain partnerships across several markets.
This report by The Canadian Press was first published Jan. 3, 2025.
The Canadian Press