Canada Pension Plan Investment Board signed a new joint venture deal with Pacific Asset Management Company (Pacific AMC) to develop data centers in South Korea.

This is the second data centre joint venture between CPP Investments and Pacific AMC. The first joint venture was set up in 2022 to develop the Jukjeon Data Centre, located in the eastern part of the Seoul metropolitan area.

CPP Investments has committed $285-million to the $1-billion joint venture’s initial seed project.