Equinix said it signed a joint venture agreement with GIC and Canada Pension Plan Investment Board (CPP Investments), with the intent to raise over US$15 billion in capital together with its partners. The agreement is subject to closing conditions.

1. 01

   Equinix said it signed a joint venture agreement with GIC and Canada Pension Plan Investment Board (CPP Investments), with the intent to raise over US$15 billion in capital together with its partners. The agreement is subject to closing conditions.

2. 02

   The company said CPP Investments and GIC will each hold 37.5%, and Equinix will hold 25%, of the equity. It said each party has made equity commitments, and the joint venture also plans to take on debt to raise total investable capital to more than US$15 billion.

3. 03

   The company said the joint venture expects to use the capital it raises to buy land and build xScale facilities on multiple greater-than-than-100-megawatt campuses in the U.S., eventually adding more than 1.5 gigawatts of new capacity for hyperscale customers.

4. 04

   The company said closing of the joint venture is subject to receipt of required regulatory approvals, which it expects to receive in Q4 2024. It also said Morgan Stanley & Co. LLC served as exclusive financial advisor to Equinix on the transaction.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.