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GIC, CPP Investments, and Equinix form joint venture to raise US$15b
GIC will hold a 37.5% equity stake in the JV.
Singapore's sovereign wealth fund, GIC, will form a joint venture (JV) with digital infrastructure company, Equinix and and the Canada Pension Plan Investment Board (CPP Investments) to raise over US$15b.
Under the terms of the agreement, GIC and CCP Ivnesmtens will both hold a 37.5% equity stake in the JV, whilst Equinix will own 25%.
The joint venture will take on debt to raise US$15b capital.
The JV will speed up the growth of Equinix’s xScale data centre portfolio, enabling hyperscale companies to expand their deployments at IBX data centres.
The JV will also nearly triple the xScale program’s investment capital upon completion.
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