La Caisse, Prologis Launch €1 Billion Pan-European Logistics Joint Venture
La Caisse (formerly CDPQ), a global investment group, and Prologis, Inc. (NYSE: PLD) announced on April 9, 2026, the formation of Prologis Logistics Investment Venture Europe (PLIVE), a new pan-European joint venture focused on acquiring, developing, and operating logistics properties across the continent. The platform is seeded with approximately €1 billion (CAD 1.6 billion) in assets spanning five core European markets.
Joint Venture Structure and Ownership
Under the terms of the agreement, La Caisse will hold a 70% interest in PLIVE, while Prologis will retain a 30% stake and serve as the operating partner. Governance rights will be shared between the two firms, with major strategic and financial decisions made jointly. Prologis will manage day-to-day property operations, including leasing and development activities, leveraging its specialized asset management platform.
Goldman Sachs & Co. LLC acted as exclusive financial advisor to La Caisse on the transaction. The deal is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.
Seed Portfolio: 844,000 Square Metres of Class A Logistics Space
The PLIVE launch portfolio will comprise approximately 844,000 square metres of Class A logistics space, combining income-generating properties and development sites contributed by both partners. Assets are located across key logistics corridors in France, Germany, the Netherlands, Sweden, and the United Kingdom. The portfolio is intended to provide immediate scale in Europe's core logistics markets and a foundation for long-term, demand-led growth.
No individual property names, street addresses, or per-asset pricing details were disclosed in the announcement.
Building on an Established Partnership
The PLIVE venture extends a relationship between La Caisse and Prologis that dates to 2019, when the two firms formed a logistics joint venture in Brazil. That prior collaboration informed the structure and ambitions of the European platform.
"We have seen Prologis' best-in-class capabilities to drive returns firsthand through our partnership in Brazil, and we are building on our combined strengths to create a truly consolidated pan-European platform," said Rana Ghorayeb, Executive Vice-President and Head of Real Estate at La Caisse. "Together, we will gain greater exposure to the European logistics sector, strengthen execution, and maximize the performance and scale of our logistics portfolio."
"Our partnership with La Caisse is built on years of working together and delivering results," said Ted Eliopoulos, Managing Director, Strategic Capital, Prologis. "Together, we're expanding that success in Europe—combining long-term capital with our operating platform to scale high-quality logistics assets across key markets."
Strategic Rationale and Growth Plans
The partners cited several structural drivers underpinning their confidence in the European logistics sector, including companies reshaping supply chains, moving production closer to home markets, and continued investment in e-commerce infrastructure. The platform is designed to grow through disciplined acquisitions and development across key European logistics corridors, leveraging Prologis' sourcing, development, and operating capabilities.
La Caisse, which reported net assets of $517 billion as of December 31, 2025, is active across major financial markets, private equity, infrastructure, real estate, and private credit. The Québec-based global investment group manages assets on behalf of 48 depositors representing more than 6 million Quebecers.
Prologis' Strategic Capital business, which manages $102 billion in assets — including $67 billion of third-party capital — generates fee-based revenue by investing alongside institutional partners in logistics real estate globally.
About the Companies
La Caisse, formerly known as CDPQ, is a global investment group that has operated for 60 years with a dual mandate: generating optimal long-term returns for its depositors and contributing to Québec's economic development. Prologis is a global logistics real estate company listed on the New York Stock Exchange whose Strategic Capital division manages institutional partnerships across major logistics markets worldwide.