CPP Investments to provide $225M in funding for Ontario data centre

CPP Investments says it will help fund an expansion to a data centre project in Cambridge, Ont.

The pension fund says it will invest $225 million in the project through a 50% interest in a construction loan.

Deutsche Bank Private Credit and Infrastructure will provide funding for the other half of the loan and will serve as the lead lender on the transaction.

A press release from CPP Investments says there is strong demand for hyperscale data centres in Toronto and the surrounding areas.

It says the project has been pre-leased on a long-term basis by an AI cloud computing provider.

Geoffrey Souter, head of real assets credit, says the pension fund has deep expertise in the sector and the project will advance its global data centre strategy.

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.