The fund manager took a controlling stake in atNorth, backed a Japanese logistics vehicle, and completed its JTC plc investment
CPP Investments now holds a controlling stake of about 51 percent in Nordic data centre developer and operator atNorth, committing US$1.3bn to a US$4bn acquisition completed with Equinix on September 2.
Equinix holds about 34 percent for US$895m and Partners Group about 10 percent for US$260m, with atNorth's internal stakeholders rolling over a substantial portion of their equity.
A financing package of US$4.1bn, underwritten by a group of European and Canadian lenders, funds the transaction and the expansion of the business.
atNorth operates eight data centres across the five Nordic countries, with sites under development in Sweden, Finland, Norway, and Denmark.
The company will continue operating independently under its existing brand.
The deal "gives CPP Investments a controlling stake in one of the Nordics' leading hyperscale data center platforms," said Maximilian Biagosch, senior managing director and global head of real assets at CPP Investments.
He tied atNorth's position to its development pipeline, access to renewable power, and capacity for AI and high-performance computing workloads.
Eyjólfur Magnús Kristinsson, CEO of atNorth, said the company has secured new hyperscale contracts and expanded its development pipeline since the signing announcement earlier this year, including a new site in Norway.
A day earlier, CPP Investments and private equity firm Permira completed their offer for JTC plc, a Jersey-headquartered provider of fund, corporate, and private capital administration services.
CPP Investments will invest approximately GBP350m / $660m for an ownership stake of approximately 20 percent, with Permira assuming majority control.
JTC shareholders approved the recommended cash offer and related Scheme of Arrangement at the Court and General Meetings, and all regulatory approvals have been received.
JTC operates across fund, corporate, and private client services, according to Sam Blaichman, managing director and head of direct private equity at CPP Investments.
Blaichman tied the fit to the platform's organic growth and client relationships, calling it "mission-critical."
Ares Management announced on September 1 the final close of Japan Logistics Development Partners V at ¥612bn, roughly US$4bn, hitting the fund's hard cap.
The vehicle came in nearly 50 percent above the ¥412bn raised by the 2021-vintage JDP IV, with CPP Investments as a cornerstone investor committing ¥150bn, approximately US$968m.
CPP Investments is a founding investor in the JDP series and has participated in every vintage since its inception in 2011.
JDP V carries ¥1.7tn (approximately US$11bn) of total investment capacity and will develop logistics facilities across Greater Tokyo, Greater Osaka, and Nagoya.
It has already committed to projects representing approximately ¥450bn in total investment.
Currency conversions use US$1 = ¥155, the approximate trailing 12-month average.
Gilles Chow, managing director and head of real estate Asia Pacific at CPP Investments, said the fund "provides compelling exposure to these themes."
He tied it to the portfolio's diversification and to returns for CPP contributors and beneficiaries.
The fund totalled $863.6bn at June 30, managed on behalf of more than 22 million contributors and beneficiaries.
