Asia Digest: CPPIB forms Japan JV, Goldman ties up with New Ease in China
A city view in Tokyo, Japan. Photo by Ryo Yoshitake on Unsplash.
July 19, 2021
Canada Pension Plan Investment Board has established a data centre joint venture with Mitsui & Co in Japan while Goldman Sachs has partnered with mainland logistics developer New Ease for a China warehouse joint venture.
CPP Investments forms Japan JV with Mitsui & Co
Canada’s largest pension fund, Canada Pension Plan Investment Board (CPPIB), announced that it has established a data centre joint venture with Mitsui & Co Inc, one of Japan’s largest general trading and investment companies.
By IPE staff2021-07-14T11:53:00+01:00
Canada Pension Plan Investment Board (CPP Investments) is investing C$400m (€271.2m) in a newly created Japanese data centre development venture with Mitsui & Co.
CPP Investments said it commit the capital to the Japanese Data Centre Development Fund, which will be an investment platform for hyper-scale data centre developments in Japan.
The fund’s initial projects will be hyper-scale data centre developments in greater Tokyo and Osaka areas in Japan. The data centres will be managed by Mitsui’s real estate fund management subsidiary.
Jimmy Phua, managing director and head of real estate Asia Pacific at CPP Investments, said: “The COVID-19 pandemic has accelerated the demand for data centres globally. In Japan, the scarcity of developable sites near major urban areas such as Tokyo and Osaka and intense capital needs have presented further challenges in developing hyper-scale data centres.”
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