The OPSEU Pension Trust and partners are launching an investment vehicle that focuses on North American data centres.

Formed alongside Mount Elbert Capital Partners and GIC Private Ltd., the pension fund’s new platform, EdgeCore Internet Real Estate, will receive initial capitalization of US$800 million to develop, acquire and operate data centres with an eye to eventually supporting $2 billion in related investments.

Read: Opportunities for investors as new technologies disrupt real estate markets

Beginning with campus developments in six markets, the platform has already identified three in the southwestern United States. Each campus will be designed to deliver between 100 and 200 megawatts of power to customers, and the company plans to complete the first building by the end of 2018.

“We are pleased and honoured to join forces with GIC and OPTrust, which we view as two of the world’s most capable and sophisticated investors,” said Tom Ray, chairman and chief executive officer of Mount Elbert and EdgeCore Internet Real Estate, in a press release. “We are excited to execute upon our shared vision of creating a scalable North American data centre platform, and we look forward to expanding with GIC and OPTrust as we work to grow EdgeCore Internet Real Estate beyond our initial roll out.” 

Read: CPPIB makes moves in global data centres, U.S. real estate

Copyright © 2018 Transcontinental Media G.P. Originally published on benefitscanada.com

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