Canada Pension Plan Investment Board (CPP Investments) is providing half of a C$450m (€284m) construction loan to fund an expansion of a data centre in Canada.
CPP Investments said it will invest C$225m in the 54MW hyperscale expansion to a data centre in Ontario, taking a 50% interest in the construction loan. Deutsche Bank Private Credit & Infrastructure will fund the remaining 50% of the loan and serve as the lead lender for the transaction.
The data centre in Cambridge is being developed by a partnership comprising TowerBrook Capital Partners and data centre investors Related Digital and Ascent.
Geoffrey Souter, the head of real assets credit, said: ”The rapid expansion of digital infrastructure—driven by accelerating demand for cloud services, data storage, and the transformative potential of artificial intelligence—is fueling strong growth in data centre development.
“CPP Investments has deep expertise in this sector and an investment in the construction financing of this project marks another milestone in advancing our global data centre strategy and strengthens our presence in the Canadian market.”
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