CPP Investments Data Center Capex and Sites
CPPIB acts as a direct construction lender and JV principal in data centers. It committed C$225 million of construction financing for a 54MW hyperscale data center in Cambridge, Ontario, US$1.75 billion to the EQT/EdgeConneX AI build-out, $1.3 billion to Ares' US$2.4 billion Japan data center fund, and formed a greater than $15 billion Equinix xScale JV with GIC on October 1, 2024. On December 23, 2025 it launched an A$14 billion (€8 billion) European data centre partnership with Goodman with an initial A$3.9 billion (€2.2 billion) commitment.
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 |
|---|---|---|---|---|
| as of March 31, 2025 | aum | n.a. | CPP Fund totalled C$714.4 billion (Canadian dollars, no USD figure given) |
|
| as of September 30, 2025 | aum | n.a. | CPP Fund totalled C$777.5 billion (Canadian dollars, no USD figure given) |
Where CPP Investments builds
| Site | State | Place | Capital | MW | Status | Sources |
|---|---|---|---|---|---|---|
Cambridge, Ontario hyperscale data center with Related Digital, TowerBrook, Ascent |
Ontario | Cambridge | n.a. | 54 | construction |
Financing transactions
Transactions that name CPP Investments 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 |
|---|---|---|---|---|---|
Equinix + GIC + CPP Investments Equinix agreed to form a greater-than-$15B xScale joint venture with GIC and CPP Investments targeting more than 1.5 GW in the United States, with 750+ MW committed as of the 2025 Analyst Day. |
jv equity | $15.0B | agreement announced; as of 2025 Analyst Day $15B planned, ~$6B invested |
n.a. |
|
Ares + CPP Investments Ares closed the fund outside North America. |
equity raise | $2.4B | n.a. |
n.a. |
|
CPP Investments + EQT + EdgeConneX CPP Investments commitment into the EdgeConneX build-out; Sixth Street took a minority stake in 2024. CPP Investments announced the investment on 3 July 2026 and said the transaction had closed following customary approvals. EdgeConneX plans more than 10 GW of additional data centers |
equity raise | $1.8B | Announced and closed 3 July 2026 |
n.a. |
|
CPP Investments + Ares Management CPPIB committed $1.3 billion to Ares' US$2.4 billion Japan data center fund. |
platform | $1.3B | n.a. in source |
n.a. |
|
CPPIB CPPIB commitment in Ontario recorded in the private capital summary table. |
equity raise | n.a. | n.a. |
n.a. |
n.a. |
CPP Investments + Related Digital + TowerBrook + Ascent CPPIB committed C$225 million of construction financing for a 54MW hyperscale data center in Cambridge, Ontario developed with Related Digital, TowerBrook and Ascent. |
debt facility | n.a. | disclosed with CPP Fund at C$714.4 billion as of March 31, 2025 |
Cambridge, Ontario hyperscale data center (Ontario) |
|
CPP Investments + Goodman CPPIB and Goodman launched an A$14 billion (€8 billion) European data centre partnership with an initial A$3.9 billion (€2.2 billion) commitment, covering 435 MW of primary power and 282 MW of IT load. Disclosed when the CPP Fund totalled C$777.5 billion as of September 30, 2025. |
jv equity | n.a. | launched December 23, 2025 |
n.a. |
Sourced facts on CPP Investments
- CPPIB committed C$225 million of construction financing for a 54MW hyperscale data center in Cambridge, Ontario developed with Related Digital, TowerBrook and Ascent.
- CPPIB committed US$1.75 billion to the EQT/EdgeConneX AI data center build-out.
- CPPIB committed $1.3 billion to Ares' US$2.4 billion inaugural Japan data center development fund.
- CPPIB formed a greater than $15 billion Equinix xScale JV with GIC on October 1, 2024.
- On December 23, 2025 CPPIB and Goodman launched an A$14 billion (€8 billion) European data centre partnership with an initial A$3.9 billion (€2.2 billion) commitment, 435 MW of primary power and 282 MW of IT load.
Sources for CPP Investments
Every source cited on this page, once each.
- cppinvestments.comCPP Investments
- investor.equinix.comEquinix
- d1io3yog0oux5.cloudfront.netEquinix Analyst Day 2025
- cppinvestments.comCPP Investments
- datacenterdynamics.comDCD
- newswire.caCPP Investments press release (Canada Newswire)
- investmentexecutive.comThe Canadian Press via Investment Executive
- cppinvestments.comCPP Investments
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.