CPP Investments invests the money not needed to fund current Canada Pension Plan benefits.Chris Young/The Canadian Press
Canada Pension Plan Investment Board says it’s committing up to $1-billion in a strategic partnership with CtrlS Datacenters Ltd., a data centre operator in India.
Under the partnership, CPP Investments will invest $588-million to acquire an 8.2 per cent stake in CtrlS.
The investment manager has also committed up to $441-million to form a joint venture with CtrlS to develop data centres across India.
CPP Investments will hold a 48 per cent stake in the joint venture, while CtrlS will own the remaining 52 per cent.
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Max Biagosch, senior managing director and global head of real assets at CPP Investments, says India represents an important pillar of the fund’s global data centre strategy.
CPP Investments invests the money not needed to fund current Canada Pension Plan benefits.