CPP Investments to Sell Stake in North America Logistics Partnership with Goodman Group

• CPP Investments to realize $2.2B in net proceeds, crystalizing strong returns over the life of the investment
• CPP Investments and Goodman Group remain partnered on other global ventures

TORONTO and SYDNEY, Jan. 2, 2025 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) is expected to realize approximately US$2.2B in net proceeds from its investment in Goodman North American Partnership (GNAP). This represents the realization of the strong performance and success of the partnership. Goodman and CPP Investments retain partnerships across several markets.

"The success of GNAP has provided us with an opportunity to lock in strong returns for the CPP Fund and is emblematic of our ongoing partnership with Goodman," said Max Biagosch, Global Head of Real Assets & Head of Europe for CPP Investments. "The proceeds from this transaction also give us the ability to redeploy capital towards new investment opportunities as our portfolio continues to grow and evolve alongside the global market."

GNAP was established as a 45-55 partnership between CPP Investments and Australia's Goodman Group, respectively, in 2012, with a mandate to invest in high-quality logistics and industrial property in key North American markets.

"We are proud of the success we've had with CPP Investments in GNAP across our global Partnerships," said Greg Goodman, Goodman Group CEO. We look forward to maintaining our strong working relationship across asset classes and geographies."

About CPP Investments

Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Fund in the best interest of the more than 22 million contributors and beneficiaries of the Canada Pension Plan. In order to build diversified portfolios of assets, investments are made around the world in public equities, private equities, real estate, infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At September 30, 2024, the Fund totaled C$675.1 billion. For more information, please visit www.cppinvestments.com or follow us on LinkedIn, Instagram or on X @CPPInvestments.

SOURCE Canada Pension Plan Investment Board