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Sign in Sign up for a FREE subscriptionCPP Investments establishes Japan data center venture with Mitsui
Canada Pension Plan Investment Board (CPP Investments) has established a data center joint venture with Mitsui & Co. Ltd., one of Japan’s largest general trading and investment companies. CPP Investments will allocate approximately C$400 million ($320 million) in equity into the venture.
The venture, Japanese Data Centre Development Fund (Mitsui Fund), will be an investment platform for hyperscale data center developments in Japan. The Mitsui Fund’s initial projects will be hyperscale data center developments in greater Tokyo and Osaka areas in Japan.
“The COVID-19 pandemic has accelerated the demand for data centers globally. In Japan, the scarcity of developable sites near major urban areas such as Tokyo and Osaka and intense capital needs have presented further challenges in developing hyperscale data centers,” said Jimmy Phua, managing director, head of real estate Asia Pacific, CPP Investments. “This investment will help address both the significa
