The fund deepens its data centre push alongside EQT, targeting long-term returns for plan members
The Canada Pension Plan Investment Board will invest $2.4bn to back EQT's expansion into artificial intelligence infrastructure through data centre developer EdgeConneX.
The commitment increases the fund manager's exposure to digital infrastructure, a sector it ties to long-term returns for Canada Pension Plan contributors and beneficiaries, according to the announcement.
CPP Investments said the transaction has closed after receipt of customary approvals.
Max Biagosch, senior managing director and global head of real assets at the fund, linked the decision to rising demand for computing capacity.
"Demand for digital infrastructure continues to accelerate globally, fueled by continued cloud and AI adoption," Biagosch said.
He added that EdgeConneX's global platform, customer relationships and development record position it to meet that demand while delivering value for plan members.
The investment forms part of a broader digital infrastructure strategy that targets large-scale platforms in markets the fund expects to sustain long-term demand.
That portfolio spans North America, the Asia Pacific region, and Europe.
EdgeConneX, founded in 2009, runs a data centre platform across more than 20 countries and serves hyperscale, cloud and enterprise customers.
The company has built contracted capacity and a development pipeline across the Americas, EMEA, and the Asia Pacific region.
CPP Investments said EdgeConneX has scaled its capacity nearly 20 times since EQT acquired the company in 2020, and the operator plans to develop more than 10 gigawatts of additional data centre capacity in the coming years.
