Goodman Group is engaged in investment in directly and indirectly held industrial property, fund management, property services and development management. The Company is based in Australia and has operations in Asia Pacific (primarily Australia, New Zealand, Hong Kong, China and Japan) and Europe (United Kingdom and Continental Europe). In August 2009, Goodman Group announced the creation of a new joint venture with Canada Pension Plan Investment Board (CPPIB) in China. Goodman Group holds 20% and CPPIB holds 80% in the joint venture. On August 19, 2009, the Goodman Group announced the sale of 93 million units in Goodman Property Trust to a number of institutional investors.