Equinix, CPP, GIC Enter JV To Nearly Triple Investment Capital Of Equinix XScale Program

(RTTNews) - Equinix (EQIX) has signed a joint venture agreement, in the form of a limited liability partnership with GIC and Canada Pension Plan Investment Board, with the intent to raise over $15 billion in capital together with its partners. CPP Investments and GIC will each control a 37.5% equity interest in the joint venture, and Equinix will own a 25% equity interest. The joint venture expects to take on debt to raise the total pool of investable capital to more than $15 billion over time.

The JV is intended to accelerate the Equinix xScale data center portfolio. At full buildout, the JV will nearly triple the investment capital of the Equinix xScale program.

With the capital raised through the JV, Equinix expects the joint venture to purchase land to build new state-of-the-art xScale facilities on multiple greater-than-100-megawatt campuses in the U.S., eventually adding more than 1.5 gigawatts of new capacity.