Canada Pension Plan Investment Board, Equinix, Inc. and Partners Group Holding AG entered into an agreement to acquire atNorth ehf from acting on behalf of its clients, Partners Group Holding AG and others for an enterprise value of $4 billion.
Published on 02/27/2026
at 07:07 am EST - Modified on 02/26/2026
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.
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 Clifford Chance LLP acted as legal advisor for Partners Group Holding. Guggenheim Securities Europe Limited acted as financial advisor and Slaughter and May acted as legal advisor for Equinix, Inc. and Canada Pension Plan Investment Board.
Partners Group Holding AG specializes in private markets investment management. At the end of 2025, the group had USD 184.9 billion of assets under management broken down by assets class as follows:
- private equity (46.4%);
- private credit (21.7%);
- private infrastructure assets (19.3%);
- private real estate assets (12%);
- royalties (0.6%).
Income is distributed geographically as follows: Switzerland (6.7%), Luxembourg (37.2%), Guernsey (25.4%), the United States (19.4%) and other (11.3%).
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Canada Pension Plan Investment Board, Equinix, Inc. and Partners Group Holding AG entered into an agreement to acquire atNorth ehf from acting on behalf of its clients, Partners Group Holding AG and others for an enterprise value of $4 billion.
