CADCR staff writer
The Canada Pension Plan Investment Board last week announced its plan to provide $225 million in financing for a 54-megawatt hyperscale data centre expansion in Cambridge.
CPP Investments will hold a 50 per cent stake in the construction loan for the project. The remaining half is being funded by Deutsche Bank Private Credit & Infrastructure, which is also the lead lender on the transaction.
The data centre development is a joint venture between Related Digital—a global, vertically integrated data centre developer and investor—TowerBrook Capital Partners, an international investment management firm, and Ascent, a specialist in planning and operating data centres.
Demand for hyperscale data centres in Toronto and surrounding regions remains strong. The expansion has been pre-leased long-term by a leading GPU-focused AI cloud computing provider.
Geoffrey Souter, Head of Real Assets Credit at CPP Investments, said, “The rapid growth of digital infrastructure, driven by increasing cloud service usage and AI advancements, is fueling significant data centre development. This investment aligns with our global strategy and strengthens our footprint in the Canadian market.”
CPP Investments currently holds data centre investments across key global markets, including North and South America, Asia Pacific, Europe, and in publicly traded data centre operators worldwide.
