CLI establishes China data centre development fund
The total equity committed to the development fund is $530m.
CapitaLand Investment Limited (CLI) has set up a data centre development fund in China.
“Total equity committed to CDCP is $530m, with existing and new global institutional investor clients holding an 80% effective stake in CDCP, and CLI holding the remaining 20%,” CLI stated.
According to CLI, the CapitaLand China Data Centre Partners (CDCP) will invest in two hyperscale data centre development projects in Greater Beijing.
CLI expects an additional $1b to its funds under management upon completion of the two projects in 2025.
The projects are also expected to deliver over 100 megawatts (MW) of power to Greater Beijing.