Pension fund Canada Pension Plan Investment Board (CPP Investments) this week announced a KRW 1 trillion (US$711 million) joint venture with Pacific Asset Management Company (Pacific AMC) to develop carrier-neutral hyperscale data centers in South Korea.
“The demand for data centers in Asia Pacific has been on the rise, driven by the continued need for cloud computing and the increasing global adoption of artificial intelligence. In South Korea, businesses continue to seek high-quality digital infrastructure to support the country’s emergence as a digital technology hub,” said Max Biagosch, senior managing director, global head of real assets & head of Europe for CPP Investments.
“This new venture not only represents another milestone in our broader data center strategy globally, but also expands a valued partnership with Pacific AMC, allowing us to seize additional opportunities in the sector to the benefit of CPP contributors and beneficiaries.”
