SYDNEY, Sept. 4,
2024 /CNW/ - Canada Pension Plan Investment Board
(CPP Investments) today announced that it has entered into a
definitive agreement alongside Blackstone to acquire AirTrunk, a
leading Asia Pacific data centre
operator, from Macquarie Asset Management and other investors
including PSP Investments. CPP Investments will commit to acquire a
12% interest in AirTrunk, as part of a transaction which values the
business at an implied enterprise value of over A$24 billion1.
Founded in 2015 and headquartered in Australia, AirTrunk develops and operates data
centres across the Asia Pacific
region, including Australia,
Hong Kong, Japan, Malaysia and Singapore.
"CPP Investments has invested in the Asia Pacific data centre sector for several
years, and we have witnessed significant growth in this space,
fueled by a strong demand for digital infrastructure and, more
recently, the increasing adoption of artificial intelligence. We
have built up strong sector expertise and are excited about the
opportunities presented by data centres globally," said Max
Biagosch, Senior Managing Director, Global Head of Real Assets
& Head of Europe for CPP
Investments.
CPP Investments currently has data centre joint ventures and
investments in key hubs in Asia
Pacific, including Australia, Hong
Kong, Japan, Korea,
Malaysia and Singapore, as well as the U.S.
"We are delighted to partner with Blackstone and the AirTrunk
management team to continue growing the business," Biagosch added.
"This investment represents another milestone in our broader data
centre strategy, further enhancing our footprint in the region to
the benefit of CPP contributors and beneficiaries. It is also a
great example of close collaboration across the Fund, with our
Infrastructure and Real Estate teams working together seamlessly to
underwrite this investment."
The transaction is subject to approval from the Australian
Foreign Investment Review Board.
1 Including
capital expenditure for committed projects
|
About CPP Investments
Canada Pension Plan Investment Board (CPP Investments™) is a
professional investment management organization that manages the
Fund in the best interest of the more than 22 million contributors
and beneficiaries of the Canada Pension Plan. In order to build
diversified portfolios of assets, investments are made around the
world in public equities, private equities, real estate,
infrastructure and fixed income. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York
City, San Francisco, São
Paulo and Sydney, CPP Investments
is governed and managed independently of the Canada Pension Plan
and at arm's length from governments. At June 30, 2024, the Fund totalled C$646.8 billion. For more information, please
visit www.cppinvestments.com or follow us
on LinkedIn, Instagram or on
X @CPPInvestments.
SOURCE Canada Pension Plan Investment Board