CalPERS Data Center Capex and Sites
CalPERS' only confirmed dedicated data center vehicle in the fetched evidence is the $500 million TechCore fund with GI Partners, dating from when CalPERS managed approximately $235 billion. Its June 2026 investment committee materials disclose a private-infrastructure NAV of $24.4 billion, a pledge to invest $100 billion in climate solutions by 2030, and a $2.6 billion NAV increase in 2025 from climate-solutions deployment, citing demand for AI, data centers and associated power infrastructure, but name no data center assets. Named North American data center investments 2023 to 2026: n.a.
Reported and guided spending
Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent, and guidance is what management expects. They sit side by side and are never combined.
| Period | Kind | Amount | As stated | Sources |
|---|---|---|---|---|
| at TechCore commitment | aum | ~$235B | CalPERS managed approximately $235 billion when it invested in the $500 million TechCore fund with GI Partners |
|
| quarter ending March 31, 2026 | aum | $24.4B | private-infrastructure NAV of $24.4 billion disclosed in June 2026 investment committee materials |
|
| by 2030 | guidance | $100B | pledge to invest $100 billion in climate solutions by 2030; not a data-center-specific commitment |
|
| 2025 | reported | $2.6B | $2.6 billion NAV increase in 2025 from climate-solutions deployment, citing 'unprecedented demand for AI, data centers, and associated power infrastructure' |
Where CalPERS builds
Financing transactions
Transactions that name CalPERS as a party or attach to one of its named sites. Amounts are as stated, and overlapping commitments are never summed.
| Parties | Instrument | Amount | Date | Site | Sources |
|---|---|---|---|---|---|
AES Corporation + Global Infrastructure Partners (BlackRock) + EQT Infrastructure + CalPERS + Qatar Investment Authority A consortium led by BlackRock's Global Infrastructure Partners and EQT, with CalPERS and the Qatar Investment Authority, received CFIUS clearance to acquire AES, parent of AES Ohio, with closing expected in late 2026 or early 2027 subject to remaining approvals. Ohio lawmakers and consumer advocates asked PUCO for local hearings, citing BlackRock's data center investments as a potential conflict given AES's data-center-driven load growth. |
Take-private acquisition at $15 per share in cash | ~$10.7B | Agreed March 2026; PUCO staff recommended approval July 2026; CFIUS approval received Thursday 27 August 2026 and disclosed 28 August 2026 |
n.a. |
|
CalPERS + GI Partners CalPERS' only confirmed dedicated data center vehicle in the fetched evidence is the $500 million TechCore fund with GI Partners. |
platform | $500M | n.a. in source; described as when CalPERS managed approximately $235 billion |
n.a. |
Sourced facts on CalPERS
- CalPERS' only confirmed dedicated data center vehicle in the fetched evidence is the $500 million TechCore fund with GI Partners.
- Named North American data center investments 2023 to 2026 are n.a. in the source; the June 2026 committee materials name no data center assets.
Sources for CalPERS
Every source cited on this page, once each.
- msn.comSeeking Alpha via MSN
- msn.comThe Plain Dealer via MSN
- msn.comThe Cool Down via MSN
- realassets.ipe.comIPE Real Assets
- calpers.ca.govCalPERS
More in the Index
Capital figures come from the Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so each figure appears as its source states it and none are added into a single deployment number. Informational, not investment advice.
Seven references, one system
Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.