Canada Pension Plan Investment Board is making a major move in India’s data centre market, committing up to $1 billion to a new strategic partnership with CtrlS Datacenters.
The Toronto-based investment manager announced today that it will invest up to INR 70 billion to expand its digital infrastructure footprint in India, one of the world’s fastest-growing data economies.
The deal includes a $588 million, investment by CPP Investments to acquire an 8.2% stake in CtrlS, a major Indian data centre operator with contracted capacity, long-term customer relationships, and a growing development pipeline.
CPP Investments and CtrlS will also form a joint venture to develop hyperscale data centre campuses across India. CPP Investments has committed up to $441 million, to the joint venture and will hold a 48% equity stake. CtrlS will own the remaining 52%.
The partnership is aimed at accelerating the development of next-generation data centre infrastructure to serve demand from hyperscalers, cloud service providers, AI applications, and India’s expanding digital economy.
Max Biagosch, Senior Managing Director and Global Head of Real Assets at CPP Investments, said India represents “an important pillar” of the organization’s global data centre strategy.
CPP Investments has been active in the global data centre sector since making its first direct investment in 2017. Since then, it has built a portfolio of data centre assets and joint ventures across major international markets, including Asia Pacific.
The investment also builds on CPP Investments’ longer history in India. The organization made its first investment in the country in 2009 and opened its Mumbai office in 2015. As of March 31, 2026, CPP Investments had more than C$27 billion in net assets in India, making it one of the country’s largest international institutional investors.
For CtrlS, the partnership comes as AI, cloud computing, and enterprise digitization continue to drive demand for large-scale infrastructure.
Sridhar Pinnapureddy, Founder and CEO of CtrlS, said “India’s AI moment” is already here, pointing to demand from hyperscalers, cloud providers, and enterprises.