CPP Investments has completed the acquisition of atNorth, one of the Nordics' leading data centre developers, taking a controlling stake in the platform. The transaction values the company at approximately $4 billion. CPP Investments holds a controlling stake of about 51%, committing $1.3 billion, alongside Equinix's roughly 34%, worth $895 million.

Partners Group, which previously owned the business, has elected to reinvest on behalf of its clients and take a fresh stake of around 10%, committing $260 million. The balance is held by at North's own management and internal stakeholders, who have rolled over a substantial portion of their equity. The equity is supported by a $4.1 billion financing package underwritten by a group of European and Canadian lenders, structured to fund not only the transaction but also the capital needed to expand the business. at North will continue to operate independently under its own brand, backed by its new owners to accelerate a development pipeline that spans all five Nordic countries.

The company runs eight operational data centres and is building several more, with mega-sites under development in Finland, Denmark, Sweden, and Norway, plus a metro site in Stockholm. With its strong portfolio of development projects, access to renewable power and differentiated capabilities for AI and high-performance computing workloads, at North is well positioned to support the region's next phase of growth.