CPP Investments spends $2.4B with EQT to build AI infrastructure

TORONTO — The Canada Pension Plan Investment Board is investing $2.4 billion with Swedish private equity firm EQT and its EdgeConneX data centre developer and operator to build AI infrastructure.

Max Biagosch, global head of real assets at CPP Investments, says the investment alongside EQT increases the fund’s exposure to a sector supported by durable, long-term demand drivers.

EdgeConneX has dozens of data centres around the world and has been expanding rapidly.

Biagosch says EdgeConneX’s strong customer relationships and proven development capabilities position it well to help meet demand while delivering long-term value.

CPP Investments has been ramping up its investments in data centres.

Last month, the investment manager committed up to $1 billion in a strategic partnership with CtrlS Datacenters Ltd., a data centre operator in India.

This report by The Canadian Press was first published July 3, 2026.