Prologis, Caisse in €1 Billion Logistics JV for Europe Assets

Caisse de Depot et Placement du Quebec and Prologis Inc. have set up a €1 billion ($1.2 billion) joint venture to acquire and run European logistics assets as geopolitical uncertainty continues to reshape supply chains.

The partnership between the Canadian pension manager and the world’s largest industrial landlord will start with a roughly €1 billion portfolio of properties across France, Germany, the Netherlands, Sweden and the UK, according to a statement Thursday. The pair will grow the joint venture, 70% of which is owned by La Caisse, through acquisitions and development.