Ares Management Raises $2.4B for First Japan Data Center Fund 

Ares Management has closed its inaugural data center investment vehicle, Japan DC Partners I (JDC I), with approximately $2.4 billion in capital to develop nearly 240 megawatts of IT load across three new data center campuses in Greater Tokyo. The launch marks a major expansion into Japan’s digital infrastructure market, driven by rising demand from AI and cloud computing. 

The fund will be developed and operated by Ada Infrastructure, a data center platform integrated into Ares following its $3.7 billion acquisition of GCP International, which closed March 1. 

The Canada Pension Plan Investment Board (CPPIB) anchored the fund with a $1.3 billion equity commitment, reflecting its growing focus on digital infrastructure after posting strong returns in the sector. Singapore-based GLP, a prior major shareholder in GCP, also contributed to the fund. 

Blair Jacobson, co-president of Ares, highlighted the strategic importance of the Japanese market. “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,” he said.   

The fund places Ares in direct competition with major players like Blackstone, which recently expanded its Asia-Pacific footprint with the $16 billion acquisition of AirTrunk, including hyperscale centers in Japan.