CPP Investments Announces Investment in Asia Pacific Data Centre Operator AirTrunk
Summary
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. 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. Headquartered in Toronto, with offices in Hong Kong, London, Mumbai, New York City, San Francisco, S\xe3o Paulo and Sydney, CPP Investments is governed and managed independently of the Canada Pension Plan and at arms length from governments.