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Last updated: May 18, 2026, 2:35 PM ET

Private Equity & Real Estate

CPP Investment Board acquired a minority stake in Blackstone's French logistics platform Proudreed, marking the Canadian pension fund's first European real estate co-investment. The deal signals CPP's shift toward direct ownership in Europe as it seeks "creative ways" to deploy capital in the region, according to Tom Jac, CPP's regional head of real estate. The transaction adds to Blackstone's string of logistics acquisitions in France, where e-commerce demand continues driving warehouse demand across the Paris basin and major logistics hubs.