Canada Pension Plan Investment Board has committed US$1.75 billion, equivalent to about C$2.4 billion, to EQT’s AI Infrastructure strategy as demand for data centers continues to accelerate.
The strategy is led by EdgeConneX, a global data center developer and operator owned by funds managed by Swedish investment firm EQT. The transaction has already closed, though the companies did not disclose which projects will receive the capital.
EdgeConneX plans to develop more than 10 gigawatts of additional data center capacity over the coming years. Its operational capacity has increased nearly twentyfold since EQT acquired the company in 2020.
Max Biagosch, CPP Investments’ global head of real assets, said the investment increases the fund’s exposure to a sector supported by durable long term demand from cloud computing and artificial intelligence.
The commitment adds to CPP Investments’ growing global data center portfolio. In June, the fund committed up to C$1 billion to a partnership with CtrlS Datacenters to develop campuses across India, with CPP holding a 48% stake in the joint venture.
CPP Investments and Equinix also agreed earlier this year to acquire Nordic data center operator atNorth in a US$4 billion transaction. CPP is expected to own about 60% of the company following the deal, which remains subject to regulatory approval.
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