CPP Investments invests ₹70 bn in India data center partnership

The Canada Pension Plan Investment Board (CPP Investments) has committed up to 70 billion rupees (approximately $741 million) to Indian data center operator CtrlS Datacenters Ltd. in a major strategic partnership announced this week. The investment combines a direct equity stake with a new joint venture aimed at developing hyperscale data center campuses across India.

Under the agreement, CPP Investments will invest 40 billion rupees to acquire an 8.2% stake in CtrlS. An additional commitment of up to 30 billion rupees will fund a new joint venture, in which the Canadian pension fund will hold a 48% interest and CtrlS will retain a controlling 52% stake. The joint venture is specifically tasked with building large-scale campuses designed for hyperscale cloud providers and artificial intelligence workloads.

CtrlS founder and CEO Sridhar Pinnapureddy stated that demand from hyperscalers, cloud providers, and enterprises is already strong and unmistakable. He said the partnership would help establish a benchmark for AI-ready infrastructure in a critical digital market. Max Biagosch, CPP Investments' global head of real assets, echoed that sentiment, calling India an important...