Canada Pension Plan Investment Board (CPP Investments) has committed up to Rs70bn ($740m) to a new partnership with CtrlS, which operates data centres in India.
As part of the deal, CPP Investments will acquire an 8.2% stake in CtrlS for Rs40bn.
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The two companies will also form a joint venture (JV) to develop hyperscale data centre campuses across the country, with CPP Investments contributing up to Rs30bn to the JV and holding 48% equity, while CtrlS will retain a 52% share.
The collaboration is intended to support the development of next-generation data centre infrastructure.
It aims to meet increasing demand from hyperscale customers, cloud service providers, AI applications, and India’s rapidly expanding digital economy.
CPP Investments senior managing director and real assets global head Max Biagosch said: “As one of the world’s fastest growing digital markets, India represents an important pillar of our global data centre strategy.
“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.”
CPP Investments has been investing in data centre assets since 2017, with a portfolio including various global markets such as the Asia Pacific region.
The company first entered India in 2009 and opened its Mumbai office in 2015.
CtrlS Datacenters operates an established data centre platform in India, with significant contracted capacity, ongoing customer relationships, and a pipeline of developments.
CtrlS founder and CEO Sridhar Pinnapureddy said: “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. 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.”
