Canada Pension Plan Investment Board (CPP Investments) has entered into a strategic partnership with CtrlS Datacenters Ltd., a data center operator in India, committing up to $715 million to scale its digital infrastructure footprint.

The partnership "aims to speed up the development of next-generation data center infrastructure to meet rising demand from hyperscalers, cloud services, AI applications and India's rapidly expanding digital economy," the pension board said in a press release.

CPP Investments plans to invest $420 million to buy an 8.2% stake in CtrlS. Alongside the equity purchase, the two parties are establishing a separate venture to build hyperscale campuses across multiple Indian markets. CPP Investments said it will contribute up to $314 million for a 48% equity ownership stake, with CtrlS holding the remaining 52%.

"As one of the world's fastest-growing digital markets, India represents an important pillar of our global data center strategy," said Max Biagosch, senior managing director and global head of real assets at CPP Investments.

"Demand for data center infrastructure in India continues to accelerate, driven by hyperscale expansion, strong domestic cloud growth and emerging AI-led demand. This partnership with CtrlS positions us to scale high‑quality infrastructure and deliver long‑term value for CPP contributors and beneficiaries."

CPP Investments has invested directly in data centers since 2017 and has built exposure across major global markets, including the Asia Pacific. The investment management organization has committed more than $19 billion in net assets in India.

"India's AI moment is not on the horizon; it is already here. The demand signals from hyperscalers, cloud providers and enterprises are clear and unmistakable,” said Sridhar Pinnapureddy, founder and CEO, CtrlS.

“Over the years, CtrlS has focused on reliability, sustainability, and long-term growth. Our partnership with CPP Investments reinforces these values. Together, we are not merely expanding capacity but also establishing the benchmark for AI-ready infrastructure in one of the world's most significant digital markets."

CPP Investments manages the Canada Pension Plan Fund with more than 22 million contributors and beneficiaries, making investments in public and private equities, real estate, infrastructure and fixed income. As of March 31, the fund totaled $565 billion.

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