Canada Pension Plan Investment Board (CPP Investments) has committed up to C$1 billion to partner with Indian data center operator CtrlS for expanding data center infrastructure across India [1]. The agreement includes a direct investment of ₹40 billion (about $423 million) to acquire an 8.2% stake in CtrlS, alongside up to ₹30 billion (around $317 million) allocated to a joint venture aimed at developing hyperscale data center campuses in India [2].
The new joint venture will be owned 48% by CPP Investments and 52% by CtrlS, reflecting a closely held partnership [2]. CtrlS currently operates more than 15 data centers in India and is expanding to meet rising demand from cloud service providers and AI workloads, according to the company [2].
Max Biagosch, CPP Investments’ Global Head of Real Assets, said, "As one of the world’s fastest-growing digital markets, India represents an important pillar of our global data center strategy" [2]. CtrlS founder and CEO Sridhar Pinnapureddy added that the partnership "will help CtrlS expand capacity and build infrastructure tailored for AI workloads" [2].
India has become a major destination for global cloud and technology companies investing in AI and data center facilities [2]. CPP Investments noted that it holds about $20 billion in net assets in India as of March 31, 2026, making it Canada’s largest pension investor in the country [2].
The partnership was first announced on June 17, 2026, when CPP Investments and CtrlS outlined their joint venture formation and investment plans [2]. The total investment commitment reported varies slightly due to currency conversion differences, with CPP Investments citing up to C$1 billion and Indian sources noting approximately ₹70 billion (roughly $741 million) [1, 2].
The joint venture will now begin executing plans to develop hyperscale data center campuses across India, aiming to enhance infrastructure to support expanding cloud and AI workloads.
