Quebec-based pension fund La Caisse announced Thursday a joint venture with industrial real estate firm Prologis Inc. to invest in logistics properties in core European markets, with the firms seeding the partnership with 1 billion euros ($1.17 billion).
La Caisse will own a 70% interest in the venture—Prologis Logistics Investment Venture Europe—with Prologis owning 30% and serving as the platform’s operating partner. The transaction is expected to close in the second quarter of the year, pending regulatory approval.
The joint venture’s strategy will focus on acquiring, developing and operating high-quality logistics properties—for storing and handling goods being shipped—across Europe, beginning with 844,000 square meters of Class A logistics space in France, Germany, the Netherlands and the U.K.
La Caisse and Prologis have collaborated on an $880 million joint venture to invest in logistics properties across Brazil—Prologis Brazil Logistics Venture—since 2019.
“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, La Caisse’s head of real estate, in a statement. “This joint venture brings together Prologis’ deep hands-on operational expertise and our vision to actively transform assets to enhance long-term value.”
La Caisse managed C$517 billion ($374.2 billion) as of December 31, 2025, including a C$117.4 billion real assets portfolio. The pension fund provides retirement benefits for beneficiaries in the Canadian province of Quebec. Prologis is a San Francisco-based logistics and real estate company that develops, owns and operates more than 1.3 billion square feet of warehouses and other facilities in 20 countries, according to the company.
Tags: Caisse de dépôt et placement du Québec (CDPQ), Europe, Real Assets