CPP Investments and Equinix complete $4 billion atNorth acquisition

CPP Investments and Equinix have finalized a $4 billion acquisition of atNorth, a Nordic provider of high-density colocation and built-to-suit data centers. Under the new ownership structure, CPP Investments holds a controlling interest of approximately 51%, committing $1.3 billion, while Equinix holds roughly 34% with an $895 million commitment. Partners Group has elected to reinvest, maintaining a 10% stake worth approximately $260 million. The remaining equity is held by atNorth internal stakeholders.

The transaction is supported by a $4.1 billion financing package underwritten by European and Canadian lenders. atNorth currently operates eight data centers across the Nordic region and has several large-scale development projects underway in Sweden, Finland, Norway, and Denmark.

The company focuses on serving enterprise and hyperscale customers involved in AI, cloud, and high-performance computing. Its operations leverage the Nordic region's renewable energy access, cooler climate for reduced cooling costs, and advanced technologies such as heat reuse and advanced cooling systems. atNorth will continue to operate under its existing brand.