Announcement • Sep 03

Canada Pension Plan Investment Board, Equinix, Inc. (NasdaqGS:EQIX) and Partners Group Holding AG (SWX:PGHN) completed the acquisition of atNorth ehf from acting on behalf of its clients, Partners Group Holding AG (SWX:PGHN) and others.

Canada Pension Plan Investment Board, Equinix, Inc. (NasdaqGS:EQIX) and Partners Group Holding AG (SWX:PGHN) entered into an agreement to acquire atNorth ehf from acting on behalf of its clients, Partners Group Holding AG (SWX:PGHN) and others for an enterprise value of $4 billion on February 27, 2026. CPP Investments will invest approximately $1.6 billion, owning an approximate 60% controlling interest, and Equinix will own an approximate 40% stake. atNorth will continue to operate independently under the atNorth brand. Partners Group has committed to reinvest and acquire up to 10% of atNorth. As part of the transaction, CPP Investments and Equinix have provisionally agreed to a financing package of $4.2 billion (€3.6 billion), underwritten by a group of European and Canadian lenders to fund the transaction as well as the capital required to fund the expansion of the business. As of August 13, 2026, the European Commission has approved the transaction. The transaction is subject to customary closing conditions and regulatory approvals. The transaction is expected to be immediately accretive upon close to Equinix's adjusted funds from operations (AFFO) per share. Goldman Sachs acted as financial advisor and Spencer Baylin, Angharad Lewis, Jennifer Storey and Martin Kolmar of Clifford Chance LLP acted as legal advisor for Partners Group Holding. Guggenheim Securities Europe Limited acted as financial advisor and James Cook, Hemita Sumanasuriya, Simon Bartle, Lorna Nsoatabe, Lorna Nsoatabe, Mike Lane, Samay Shah, Richard McDonnell and Samantha Brady of Slaughter and May and Kerry O'Connell and Shweta Vasani and Slaughter and May (Belgium) acted as legal advisor for Equinix, Inc. and Canada Pension Plan Investment Board. RBC Capital Markets Inc. acted as financial advisor to Canada Pension Plan Investment Board. Michael Honan, Ben Suen, Rich Jones and John Tsui of Linklaters LLP acted as legal advisor for Canada Pension Plan Investment Board. Linklaters also advised both CPP Investments and Equinix on the debt financing aspects of the transaction, led by partner Ross Schloeffel. Canada Pension Plan Investment Board, Equinix, Inc. (NasdaqGS:EQIX) and Partners Group Holding AG (SWX:PGHN) completed the acquisition of atNorth ehf from acting on behalf of its clients, Partners Group Holding AG (SWX:PGHN) and others on September 2, 2026. On completion, atNorth will continue to operate independently under its existing brand, with the backing of its shareholders to accelerate development of its pipeline and expand capacity across the Nordics. Equinix brings complementary digital infrastructure expertise and global customer relationships to support atNorth's continued growth. As a result, CPP Investments will hold a 51% controlling stake committing $1.3 billion, alongside Equinix's 34% committing $895 million and Partners Group's 10% committing $260 million. The remainder will be held by atNorth's internal stakeholders, who have chosen to roll over a substantial portion of their equity. The transaction involves a financing package of $4.1 billion (€3.6 billion), underwritten by a group of European and Canadian lenders to support atNorth's continuous growth, fund the transaction, as well as the capital required to fund the expansion of the business.

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Canada Pension Plan Investment Board, Equinix, Inc. (NasdaqGS:EQIX) and Partners Group Holding AG (SWX:PGHN) completed the acquisition of atNorth ehf from acting on behalf of its clients, Partners Group Holding AG (SWX:PGHN) and others.

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