The Investor
28 Feb 2026, 14:31
Canada Pension Plan Investment Board and Equinix, Inc. have agreed to acquire Nordic data center operator atNorth from Partners Group in a transaction valuing the business at US$4 billion.
Under the joint agreement, CPP Investments will invest approximately US$1.6 billion for a 60% controlling stake, while Equinix will hold 40%. The deal is expected to be immediately accretive to Equinix’s adjusted funds from operations (AFFO) per share upon closing, which remains subject to regulatory approvals and customary conditions.
atNorth operates eight data centers across Denmark, Finland, Iceland, Norway and Sweden, with additional sites under development. The platform has roughly 800 MW in installed and active development pipeline capacity expected over the next five years, alongside 1 GW of secured power for future expansion. Several facilities are liquid cooling-enabled to support AI and high-performance computing workloads and are powered by renewable energy.
The partners have provisionally agreed to a US$4.2 billion financing package to fund the acquisition and future expansion. The transaction strengthens Equinix’s Nordic footprint—where it currently operates eight facilities—and expands CPP Investments’ European data center exposure amid rising enterprise, cloud and AI-driven demand.
Source: PRNewswire, February 27, 2026.
Under the joint agreement, CPP Investments will invest approximately US$1.6 billion for a 60% controlling stake, while Equinix will hold 40%. The deal is expected to be immediately accretive to Equinix’s adjusted funds from operations (AFFO) per share upon closing, which remains subject to regulatory approvals and customary conditions.
atNorth operates eight data centers across Denmark, Finland, Iceland, Norway and Sweden, with additional sites under development. The platform has roughly 800 MW in installed and active development pipeline capacity expected over the next five years, alongside 1 GW of secured power for future expansion. Several facilities are liquid cooling-enabled to support AI and high-performance computing workloads and are powered by renewable energy.
The partners have provisionally agreed to a US$4.2 billion financing package to fund the acquisition and future expansion. The transaction strengthens Equinix’s Nordic footprint—where it currently operates eight facilities—and expands CPP Investments’ European data center exposure amid rising enterprise, cloud and AI-driven demand.
Source: PRNewswire, February 27, 2026.