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SAVRN Index · Private equity and infrastructure

Pensions & Sovereign Wealth Funds Data Center Capex and Sites

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Pension funds and sovereign wealth funds appear throughout the sponsor landscape as direct and co-investors. Documented positions include ADIA and GIC's $1.6 billion into Vantage, CPPIB's C$225 million in Ontario, La Caisse's CAD 240 million to advance Cologix's AI-ready MTL8 data center, MGX's participation in the $500 billion Stargate program, and holdings across Vantage, Cologix, eStruxture, Compass, Aligned and Equinix xScale. CPP Fund stood at C$777.5 billion (9/30/25) and La Caisse at CAD 517 billion (12/31/25).

Updated October 8, 2026Capital record from the Capital Atlas
Named sites
0
Site commitments on record for Pensions & Sovereign Wealth Funds
Disclosed site capital
n.a.
Named sites with a stated dollar figure. A floor, not a capex total
Disclosed capacity
n.a.
Named sites with a stated megawatt figure
Financing transactions
37
Transactions naming Pensions & Sovereign Wealth Funds or one of its sites
Sources
47
Every cited page, listed below
Market
This profile groups several organizations, so there is no single market listing.
Spending

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.

PeriodKindAmountAs statedSources
9/30/2025 aum n.a.
CPP Fund C$777.5 billion (CAD figure, no USD conversion given); La Caisse CAD 517 billion (12/31/25)
Named sites

Where Pensions & Sovereign Wealth Funds builds

No named site commitment is on record for Pensions & Sovereign Wealth Funds (CalPERS, CPPIB, CDPQ/La Caisse, OTPP, PSP, ADIA, GIC, Mubadala, MGX) as of October 8, 2026. That is normal for private equity and infrastructure: the capital shows in the transactions below rather than on a site of its own.
Financing

Financing transactions

Transactions that name Pensions & Sovereign Wealth Funds as a party or attach to one of its named sites. Amounts are as stated, and overlapping commitments are never summed.

PartiesInstrumentAmountDateSiteSources
OpenAI + SoftBank + Oracle + MGX
Stargate launched as a new company intending to invest $500 billion over four years building new AI infrastructure for OpenAI in the United States, starting in Texas, with SoftBank, OpenAI, Oracle, and MGX as initial equity funders.
 platform ≥$500B
January 2025
n.a.
AIP + MGX + BlackRock GIP + Macquarie Asset Management (seller) + Macquarie Asset Management + Aligned Data Centers
The largest North American data center transaction of the period, covering a platform of 6.4GW across 51 locations. Macquarie Asset Management led the sale as exiting sponsor.
 acquisition ≥$40.0B
announced October 16, 2025; closed July 21, 2026
n.a.
MGX + BlackRock + Kuwait Investment Authority + Temasek + Nvidia + xAI + Microsoft + AI Infrastructure Partnership + GIP
MGX is a founding partner of the AI Infrastructure Partnership (AIP), seeking $30 billion of equity scaling to up to $100 billion including debt financing. Kuwait Investment Authority joined in June 2025 and Temasek made an anchor investment at the October 2025 initial closing.
 platform $30.0B
n.a. in source; KIA joined June 2025, Temasek anchored October 2025 initial closing
n.a.
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.
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.
CoreWeave + Blackstone + Magnetar + Coatue + Carlyle + CDPQ + BlackRock + DigitalBridge
Blackstone-led delayed-draw term loan with Magnetar, Coatue, Carlyle, CDPQ, BlackRock and DigitalBridge participating.
 debt facility $7.5B
May 17, 2024
n.a.
xAI + A16Z + Blackrock + Fidelity Management & Research Company + Kingdom Holdings + Lightspeed + MGX + Morgan Stanley + OIA + QIA + Sequoia Capital + Valor Equity Partners + Vy Capital
xAI closed its Series C funding round of $6 billion with participation from key investors, bringing its total funding to date over $12 billion.
 equity raise ≥$6.0B
23 December 2024
n.a.
Fluidstack + US Department of Defense Office of Strategic Capital
The Pentagon's Office of Strategic Capital was reported to be in talks to lend about $5 billion to Fluidstack to strengthen US manufacturing capacity and supply chains for data center components. Neither party commented on the report
 debt facility ~$5.0B
Reported by The Wall Street Journal 10 September 2026; talks, not signed
n.a.
Aligned Data Centers + AI Infrastructure Partnership + MGX + Global Infrastructure Partners
After closing the $40 billion acquisition of Aligned from Macquarie Asset Management, the AIP, MGX and GIP consortium plans to invest $5 billion in the company, primarily to expand capacity. Aligned has more than 6.4 GW of operational and planned capacity across the Americas, according to the report
 equity raise ~$5.0B
Reported by Bloomberg 21 July 2026, via The Real Deal
n.a.
PSP Investments + Vantage Data Centers
PSP completed the sale of the majority of its Vantage Data Centers investment on June 13, 2024, generating cumulative proceeds of approximately US$2.3 billion. During PSP's ownership Vantage grew from three campuses to 34.
 acquisition ~$2.3B
completed June 13, 2024
n.a.
ADIA + GIC + Vantage Data Centers
ADIA and GIC agreed to invest $1.6 billion into Vantage Data Centers in September 2025, with closing expected in Q4 2025.
 jv equity $1.6B
agreed September 2025; closing expected Q4 2025
n.a.
Crusoe Energy + Valor Equity Partners + Mubadala Capital
Series E co-led by Valor Equity Partners and Mubadala Capital, disclosed with a 45GW pipeline, 1.2GW at Abilene and 1.8GW in Wyoming.
 equity raise ≥$1.4B
October 24, 2025
n.a.
GI Partners + DigiCo Infrastructure REIT (seller, HMC Capital managed)
GI Partners bought the fully leased 189,000 square foot data center at 800 East Devon Avenue in Elk Grove Village, Illinois, from a subsidiary of Australia's HMC Capital for $750 million. GI Partners already holds majority stakes in three Digital Realty data centers in Elk Grove Seller DigiCo Infrastructure REIT, spun off from HMC Capital in late 2024, announced the sale on 6 May 2026 without naming the buyer; Reuters reported the CHI1 facility at 32 MW, leased to a hyperscale customer under a 15-year agreement
 acquisition $750M
Reported 9 September 2026
n.a.
Crusoe Energy + Founders Fund + Fidelity + Mubadala + Nvidia + Ribbit + Valor + Crusoe
Series D led by Founders Fund.
 equity raise $600M
closed December 12, 2024
n.a.
Mubadala + Cologix + Stonepeak
Mubadala invested $500 million into Cologix alongside Stonepeak for data center expansion.
 equity raise $500M
n.a.
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.
Lambda + Mubadala Capital
Lambda reportedly targets an IPO in H2 2026, slightly later than a previously reported H1 target, with Morgan Stanley, J.P. Morgan and Citi engaged. Bloomberg reported on 25 August 2026 that Lambda was in talks to raise as much as $3 billion at a valuation of as much as $12 billion or more, had received multiple term sheets, and could go public as soon as 2027; terms were not finalized. Reported by Bloomberg. The Wall Street Journal reported on Tuesday 6 October 2026, citing unnamed sources, that Lambda is raising as much as $4 billion in a final round before its planned IPO, at a valuation of $14.5 billion excluding the new money. Reported, not closed; amount field unchanged.
 equity raise ~$350M
reported; IPO targeted H2 2026
n.a.
Mubadala + Princeton Digital Group
Mubadala's related digital investments include $350 million into Princeton Digital Group in 2022.
 jv equity $350M
2022
n.a.
Zelestra + Meta (PPA offtaker) + Canadian Imperial Bank of Commerce + BBVA + Societe Generale
Independent power producer Zelestra closed a US$350 million green credit facility from CIBC, BBVA and Societe Generale for the 203 MW Reclamation Solar project on former coal mining land in Gibson County, Indiana, which will fulfil a power purchase agreement with Meta. The project is under construction with commercial operation expected at the end of 2027. Zelestra said the financing brings its 2026 US project financing to US$1.14 billion; it has seven US PPAs with Meta.
 debt facility $350M
Financial close announced 7 October 2026
n.a.
CDPQ + Vantage Data Centers
CDPQ committed USD 75 million (CAD 103 million) of a USD 130 million facility for Vantage's QC2 campus in Québec City, adding 16MW for a total of 86MW.
 debt facility $75M
n.a. in source
Vantage QC2 campus (Quebec)
Commonwealth of Kentucky (Kentucky Business Investment program) + Poe Companies + PowerHouse Data Centers
Carroll County official Matthew Dusing said the $9.6 billion Carrollton Industrial Campus received $3.7 million in KBI funding. The developers also describe a payment in lieu of taxes arrangement projected to average $11.1 million a year to Carrollton over 20 years
 incentive $4M
Reported 23 July 2026
Carrollton Industrial Campus data center (Greens Bottom Road) (KY)
SoftBank + OpenAI + Oracle + MGX
SoftBank, OpenAI, Oracle, and MGX are the initial equity funders in the Stargate Project, with OpenAI and SoftBank each reported at a 40% stake.
 jv equity n.a.
Announced January 2025
n.a.
DigitalBridge + La Caisse + Yondr Group
DigitalBridge and La Caisse completed the acquisition of Yondr Group.
 acquisition n.a.
completed
n.a.
Ares + CDPQ + Schroders Capital + Vantage EMEA
Ares participated with CDPQ and Schroders Capital in a financing for Vantage EMEA.
 debt facility n.a.
n.a.
n.a.
Anthropic + Macquarie Asset Management + GIC
Theseus Infrastructure, a US-focused dedicated data center platform.
 platform n.a.
announced (Business Wire release dated 2026-08-09 in URL)
n.a.
CPPIB
CPPIB commitment in Ontario recorded in the private capital summary table.
 equity raise n.a.
n.a.
n.a.
 n.a.
La Caisse + Cologix
La Caisse invested CAD 240 million to advance Cologix's AI-ready MTL8 data center.
 equity raise n.a.
n.a.
Cologix MTL8 (Quebec)
CDPQ + CoreWeave
CDPQ participated in the CoreWeave $7.5 billion facility.
 debt facility n.a.
n.a. in source
n.a.
CDPQ + Fengate + eStruxture
CDPQ and Fengate committed new capital to eStruxture, which operates data centers in Montréal, Vancouver and Calgary.
 jv equity n.a.
n.a. in source
n.a.
La Caisse + Cologix
La Caisse provided CAD 240 million of senior financing for Cologix's MTL8, a 21MW data centre at Technoparc Montréal.
 debt facility n.a.
disclosed with net assets of CAD 517 billion as of December 31, 2025
Cologix MTL8 (Quebec)
La Caisse + DigitalBridge + Yondr Group
La Caisse co-acquired Yondr Group with DigitalBridge. Yondr has 420MW committed and more than 1GW potential.
 acquisition n.a.
completed; disclosed with net assets CAD 473 billion at that release
n.a.
Ares Management + CDPQ + Schroders Capital + Vantage Data Centers
La Caisse joined the EUR 750 million Vantage EMEA financing with Ares and Schroders.
 debt facility n.a.
n.a. in source
n.a.
Anthropic + Macquarie Asset Management + GIC
GIC joined Anthropic and Macquarie Asset Management in the Theseus Infrastructure US platform, a strategic partnership to develop dedicated data center infrastructure at scale.
 platform n.a.
n.a. in source
n.a.
Mubadala + Aligned Data Centers
Mubadala invested in Aligned Data Centers on August 2, 2023, amount not disclosed, when Aligned planned more than 2.5GW across 40 plus data centers at full build-out.
 jv equity n.a.
August 2, 2023
n.a.
Mubadala + CityFibre
Mubadala's related digital investments include £800 million into CityFibre.
 jv equity n.a.
n.a. in source
n.a.
Anthropic + Macquarie Asset Management + GIC
Anthropic, Macquarie Asset Management and GIC announced a strategic partnership to develop dedicated data center infrastructure at scale, with an initial focus on the United States. Funds managed by Macquarie Asset Management will, together with GIC, own the platform and fund the majority of the equity for each project, with Anthropic leasing the facilities as anchor tenant under long-term agreements. Anthropic also committed to cover electricity price increases that consumers otherwise may face from these sites. No dollar or capacity figure was disclosed.
 platform n.a.
Announced 10 August 2026
n.a.
Cologix + Cologix Canadian Issuer Limited Partnership + KBRA
KBRA published preliminary ratings on Cologix Canadian Issuer Limited Partnership Series 2026-1/2, the issuer's third Canadian data center ABS. The notes are secured by 21 operating data centers in Montreal, Toronto and Vancouver generating about $234.2 million of annualized revenue and $150.2 million of annualized adjusted NOI as of 31 March 2026
 abs n.a.
KBRA preliminary ratings published 11 August 2026
n.a.
The record

Sourced facts on Pensions & Sovereign Wealth Funds

  • Key portfolio companies across the group include Vantage, Cologix, eStruxture, Compass, Aligned and Equinix xScale.
  • OTPP co-acquired Compass Datacenters with Brookfield in 2023, with OTPP net assets at C$247.2 billion at announcement.
  • Mubadala invested $500 million into Cologix alongside Stonepeak.
Sources

Sources for Pensions & Sovereign Wealth Funds

Every source cited on this page, once each.

Private equity and infrastructure

More in the Index

Antin Infrastructure PartnersApollo Global ManagementAres ManagementBlackRock / GIP / AI Infrastructure PartnershipBlackstoneBrookfield (BAM / Brookfield Infrastructure Partners)Copenhagen Infrastructure PartnersDigitalBridgeEQTGlobal Infrastructure Partners (as a distinct platform)I Squared CapitalIPI Partners / Blue OwlKKRMacquarie Asset ManagementOaktree Capital ManagementSilver LakeStonepeakThe Carlyle Group

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.

The SAVRN reference set

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.

Capital Atlas
Who is funding AI data centers: capital providers, named sites, financing transactions, and the blocked-and-delayed record, state by state and company by company.
Open the atlas →
Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
Open the watchlist →
Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
Open the tracker →
Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
Open the water tracker →
Grid Operator Watchlist
ERCOT, PJM, MISO, CAISO, SPP, NYISO, ISO-NE and FERC: the large-load rules, filings and queue positions that decide whether a site can energize.
Open the watchlist →
Permits and Power Development
Data center and substation permits, large loads in the interconnection queues, and the power plants planned to serve them, refreshed hourly from public records.
Open the permits tracker →
SAVRN Scarcity Tracker
Eleven primary-sourced indicators of AI infrastructure scarcity, one composite index, read against the token index, SAVRN's own cost basis and the frontier ceiling.
Open the scarcity tracker →
Have a specific address? Site Intelligence reads all seven references against one location, county, utility and grid operator included, and cites every finding.
Check an address →