The Canada Pension Plan Investment Board (CPP Investments) will invest C$225 million (US$160 million) into the expansion of a major data center in Cambridge, Ontario. This funding represents half of a C$450 million (US$320 million) construction loan, with the other half provided by Deutsche Bank Private Credit and Infrastructure, which also led the financing deal.
The data center is being developed through a joint venture involving Related Digital – a vertically integrated data center development platform launched by Related Companies – investment firm TowerBrook Capital Partners, and Canadian data center operator Ascent.
According to CPP Investments, the project will add 64MW of capacity to the Cambridge facility.

The facility has already been pre-leased to an undisclosed hyperscaler described as a “market-leading GPU-focused AI cloud compute provider.”
Geoffrey Souter, Managing Director and Head of Real Assets Credit at CPP Investments, emphasized the strategic significance of the investment:
“The rapid expansion of digital infrastructure – driven by accelerating demand for cloud services, data storage, and the transformative potential of artificial intelligence – is fueling strong growth in data center development.”
This marks the latest in a string of data center investments by the Canadian pension fund. Since its first direct investment in 2017, CPP Investments has built a global portfolio spanning the US, Canada, South Korea, Australia, Hong Kong, Japan, Malaysia, and Singapore. Most recently, it committed KRW 1 trillion (US$711 million) to a hyperscale development partnership in South Korea. To date, CPP has disclosed more than $4.6 billion in digital infrastructure exposure, including direct projects and significant public equity holdings via the Maple 8 group. When factoring in private joint ventures and global co-investments, its total commitment could quietly surpass $5 billion – and may well approach $10 billion – as demand for AI infrastructure accelerates.
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