CPP Investments and Equinix Acquire Nordic Data Center Provider atNorth from Partners Group for US$4 Billion

CPP Investments and Equinix, Inc. have jointly acquired atNorth, a leading Nordic high-density colocation and built-to-suit data center provider, from Partners Group for an enterprise value of US$4 billion. CPP Investments will hold an approximate 60% controlling interest with a US$1.6 billion investment, while Equinix will own an approximate 40% stake. This strategic acquisition aims to capitalize on the accelerating demand for data center infrastructure, particularly for AI and high-performance computing, in the Nordics region. The transaction, which involves an operating asset with 800 MW capacity, is expected to be immediately accretive to Equinix’s adjusted funds from operations (AFFO) per share upon close. This deal underscores the significant institutional and strategic investor interest in digital infrastructure, especially assets critical for AI and HPC workloads. The joint venture structure combines CPP Investments' long-term capital and infrastructure investment expertise with Equinix's operational capabilities and strategic market presence in the data center sector. The acquisition of atNorth, specializing in high-density colocation, positions the buyers to meet the demanding infrastructure requirements of advanced computing applications in a key European region. The US$4 billion valuation for an 800 MW operating asset highlights the premium placed on scalable, high-performance data center capacity.