CPP Investments Commits C$1 Billion to CtrlS Datacenters Ltd. Joint Venture in India

MUMBAI, India — June 17, 2026 — Canada Pension Plan Investment Board (CPP Investments) announced a strategic partnership with CtrlS Datacenters Ltd., committing up to INR 70 billion (C$1 billion) to develop and scale data centre infrastructure across India, the organizations said.

Deal Structure: Equity Stake and Joint Venture

The partnership is structured in two components. First, CPP Investments will invest INR 40 billion (C$588 million) to acquire an 8.2% equity stake in CtrlS Datacenters Ltd., which operates a data centre platform with contracted capacity, long-term customer relationships, and a development pipeline, according to the announcement.

Second, CPP Investments and CtrlS Datacenters Ltd. will form a joint venture to develop hyperscale data centre campuses across India. CPP Investments has committed up to INR 30 billion (C$441 million) to the joint venture and will hold 48% equity ownership, with CtrlS retaining the remaining 52%.

The partnership is aimed at accelerating the development of data centre infrastructure to serve demand from hyperscalers, cloud services providers, and AI applications, the firms said.

CPP Investments' India and Data Centre Strategy

CPP Investments has been investing in the data centre sector globally since making its first direct investment in 2017 and has since built a portfolio of data centre assets and joint ventures across major international markets, including Asia Pacific, according to the firm.

CPP Investments made its first investment in India in 2009 and opened a Mumbai office in 2015. As of March 31, 2026, CPP Investments held over INR 1,850 billion (C$27 billion) in net assets in India, making it one of the largest international institutional investors in the country, according to the firm.

Max Biagosch, Senior Managing Director and Global Head of Real Assets at CPP Investments, commented on the investment.

"As one of the world's fastest growing digital markets, India represents an important pillar of our global data centre strategy," Biagosch said. "Demand for data centre 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."

Biagosch added: "This investment builds on more than a decade of investing in India and the strength of our local platform. With an established presence on the ground, we continue to focus on investing alongside high-quality partners such as CtrlS and executing with discipline over the long term."

CtrlS Datacenters Ltd. on India's AI Infrastructure Demand

Sridhar Pinnapureddy, Founder and CEO of CtrlS Datacenters Ltd., commented on the partnership.

"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," Pinnapureddy said. "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."

About the Firms

CPP Investments is a professional investment management organization that manages the Canada Pension Plan Fund on behalf of more than 22 million contributors and beneficiaries. Headquartered in Toronto, the firm maintains offices in Hong Kong, London, Mumbai, New York City, São Paulo, and Sydney. As of March 31, 2026, the Fund totaled C$793.3 billion. CPP Investments is governed and managed independently of the Canada Pension Plan and at arm's length from governments.

CtrlS Datacenters Ltd. is described by CPP Investments as a leading data centre operator in India.