Canada Pension Plan Investment Board (CPP Investments) provided funding to construct a 54-megawatt hyperscale expansion to a data center in Cambridge, Ontario.
CPP Investments will invest C$225 million ($163 million) in the project by way of a 50 percent interest in a construction loan, alongside Deutsche Bank Private Credit & Infrastructure, which served as the lead lender on this transaction and funded the remaining 50 percent of the loan.
The data center is being developed as a joint venture between Related Digital, a global, vertically integrated data center development and investment platform; TowerBrook Capital Partners, an international investment management firm; and Ascent, a leader in planning, developing and operating data centers. The demand for hyperscale data centers in Toronto and the surrounding region is strong, and the project has been pre-leased to a graphics processing units–focused AI cloud compute provider on a long-term basis.
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