Co-investment alongside Blackstone provides CPP Investments exposure to France's supply-constrained last-mile urban logistics market at scale

LONDON, May 14, 2026 /CNW/ - Canada Pension Plan Investment Board (CPP Investments) today announced a €400 million co-investment in Proudreed, one of France's largest and most established last-mile urban logistics platforms, alongside funds managed by Blackstone, a global leader in real estate investing. The investment provides CPP Investments with a significant minority interest in the platform.

Proudreed owns and manages a portfolio of approximately 1.6 million square meters of high-quality, multi-let logistics and light industrial assets, focused primarily on last-mile urban locations. The sites are located across France, with nearly 50% concentrated in Paris, Lyon and Marseille, and serve a diversified tenant base. The platform also includes the potential for future development of more than 500,000 square meters, bringing the total square meters to 2.2 million, that is fully supported by Proudreed's experienced and highly specialised in-house management team.

"This investment gives us immediate scale in one of Europe's most supply-constrained last-mile urban logistics markets," said Thomas Jackson, Head of Real Estate Europe at CPP Investments. "Proudreed combines a high-quality, diversified portfolio with strong embedded rental growth potential. Our longstanding partner Blackstone brings strong experience supporting the building and scaling of logistics platforms across Europe, contributing to our strategy to access high conviction, thematic sectors, at scale. This investment will help deliver long-term, risk-adjusted returns to the CPP Fund for the benefit of CPP contributors and beneficiaries."

"Proudreed's exceptional management team have built a high-quality portfolio and one of France's leading logistics platforms, and we are pleased to partner with CPP Investments to continue scaling the business and capturing the strong demand for last‑mile logistics across the country," said James Seppala, Head of European Real Estate at Blackstone.

About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a professional investment management organization that manages the Canada Pension Plan Fund in the best interest of the more than 22 million contributors and beneficiaries. In order to build diversified portfolios of assets, we make investments around the world in public equities, private equities, real estate, infrastructure, fixed income and alternative strategies including in partnership with funds. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, São Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments. At December 31, 2025, the Fund totaled C$780.7 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