The Investment Management Corp. of Ontario is investing US$450 million in a digital infrastructure provider.
DataBank Ltd. operates a portfolio of 74 data centres in France, the U.K. and the U.S. Its facilities are used by commercial clients across a range of sectors.
According to a press release, the investment is part of a strategy to target sectors benefiting from secular growth. “DataBank’s leadership position in digital infrastructure and experienced management team makes it an ideal investment for our infrastructure portfolio,” said Rossitsa Stoyanova, chief investment officer at the IMCO.
In other news, the Caisse de dépôt et placement du Québec is entering a partnership to construct a life sciences facility in Boston.
Alongside the Lendlease Group, the investment organization’s real estate arm, Ivanhoé Cambridge, is allotting US$500 million to the development a nine-storey facility. Known as Forum, it’s now under construction on a six-hectare lot in Boston’s Allston-Brighton neighbourhood. When completed in 2024, the building is expected to have 32,500 square metres of internal space.
“From easy transit access to a sustainable infrastructure and indoor-outdoor experiences on multiple floors, Forum will be the perfect environment from which to do this important work,” said Jonathan Pearce, executive vice-president of leasing and development at Ivanhoé Cambridge, in a press release.