SAVRN Research · Capital Atlas · Pension and sovereign wealth
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.
CPP Investments (CPPIB)
Pension and sovereign wealth
Financing regimedirect construction lending, fund commitments and JV equity
Named sites
1
Site-level commitments the atlas ties to CPP Investments (CPPIB)
Disclosed site capital
n.a.
Sum of named sites with a stated dollar figure. Not a capex total; see the spending table
Disclosed capacity
54 MW
Sum of named sites with a stated megawatt figure
Financing transactions
7
Transactions naming CPP Investments (CPPIB) or tied to one of its sites
Spending
Reported and guided spending
Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent; guidance is what management said it expects. They are shown side by side and 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) |
Named sites
Where CPP Investments (CPPIB) builds
Ontario
1 site
| Site | State | Place | Capital | MW | Status | Sources |
|---|---|---|---|---|---|---|
Cambridge, Ontario hyperscale data center with Related Digital, TowerBrook, Ascent |
Ontario | Cambridge | n.a. | 54 | construction |
Financing
Financing transactions
Transactions that name CPP Investments (CPPIB) as a party or attach to one of its named sites. Amounts are as stated; 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. |
The record
Sourced facts on CPP Investments (CPPIB)
- 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
Sources for CPP Investments (CPPIB)
Every source cited on this page, once each. The full atlas source register is at Capital Atlas sources.
- 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
Pension and sovereign wealth: one page each
ADIA (Abu Dhabi Investment Authority) 0CalPERS 0CDPQ / La Caisse 2CPP Investments (CPPIB) 1GIC 0Kuwait Investment Authority 0MGX 0Mubadala 0Ontario Teachers' Pension Plan (OTPP) 1PSP Investments 0Qatar Investment Authority 0Temasek 0
The figure beside each provider is its count of named sites in the atlas.
Part of the North American Data Center Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so this page shows each figure as its source states it and never adds them into a single deployment number. Informational, not investment advice.
The SAVRN reference set
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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.
Delay Watchlist
Project-level slippage: named projects, jurisdictional actions, utility and federal dockets, SEC disclosures, and the interconnection queue.
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Moratorium Tracker
The policy layer: every state measure and local moratorium mapped and cited, with one page per state.
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Water Tracker
Every federal, state, local and interstate water measure that touches a data center, plus a fifty-state water ledger.
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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.
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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.
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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.
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