Ares Management Corporation, a global alternative investment manager, has announced the final close of its first data center investment and development fund named Japan DC Partners I LP. With approximately ¥350 billion (US$ 2.4 billion) in total equity commitments, the Fund will invest in the development of three data center campuses in Greater Tokyo that are expected to collectively deliver nearly 240MW of IT load.
In a press release, Ares revealed that the facilities will incorporate renewable-enabled power sourcing and cooling systems aligned with leading water efficiency protocols. The Fund’s campuses will be developed and operated by Ada Infrastructure (“Ada”), a global data center platform acquired by Ares as part of the GCP International transaction and now vertically integrated into Ares.
“With the increasing adoption of AI and cloud computing technologies positioning Japan as a key market in the global data center ecosystem, we believe this capital will enable Ares to address supply constraints,” said Blair Jacobson, Co-President of Ares.
As one of the institutional investors in the Fund, Canada Pension Plan Investment Board (“CPP Investments”) has made an equity commitment of approximately US$1.3 billion (¥193 billion). CPP Investments was joined by other large institutional investors including GLP Pte Ltd (“GLP”), a leading Singapore-based global investor focused on the new economy. GLP was the largest shareholder in GCP International prior to Ares’ acquisition of GCP International on March 1, 2025 and continues to own digital infrastructure assets across major international markets, including investments managed by Ares.
“The demand for data centers in Asia Pacific continues to grow due to the increasing need for data processing and consumption,” said Max Biagosch, Senior Managing Director & Global Head of Real Assets for CPP Investments. “As one of the largest data center markets in Asia, Japan acts as a key connection point between Asia and North America to facilitate efficient data transfer. The commitment to the Fund will further advance our global data center strategy and deliver attractive risk-adjusted returns for CPP contributors and beneficiaries.”
Despite being one of the most expensive places to build and operate data centers in Asia, Japan continues to attract huge investments into digital infrastructure from some of the most renowned national and international technology giants and data center industry players. Ares anticipates additional investment opportunities in the Japan data center sector, including execution of its secured pipeline, as well as synergies between its broader digital infrastructure and climate infrastructure capabilities to support long-term development.
