Ares Management Closes Inaugural USD 2.4bn Data Center Fund in Japan
Ares Management Corporation, a leading global alternative investment manager, has completed the final close of Japan DC Partners I LP (“JDC I” or the “Fund”), marking Ares’ first vehicle dedicated to data center investment and development. With approximately US$2.4 billion (¥350 billion) in total equity commitments, the Fund positions Ares to be one of the largest data center investors in Japan with significant capital to meet the rapidly growing demand from cloud and artificial intelligence applications.
JDC I will invest in the development of three data center campuses in Greater Tokyo, one of the world’s largest data center hubs, that are expected to collectively deliver nearly 240MW of IT load. These development assets will incorporate strong sustainability standards, including 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, a global data center platform acquired by Ares as part of the GCP International transaction and now vertically integrated into Ares. Supported by a dedicated team of over 70 professionals globally, Ada provides deep knowledge in executing complex data center projects.
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. Further, Ares believes that its established local capabilities in Japan, including extensive land sourcing activity and relationships with key business partners and community stakeholders through its leading logistics real estate business, strongly position the platform to continue expanding its data center footprint.
As one of the institutional investors in the Fund, the Canada Pension Plan Investment Board (CCP 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, 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.
“This achievement underscores the leading investment and development capabilities that the combined Ares and GCP International platform brings to Japan’s new economy sectors, and we appreciate the meaningful support from the Fund’s investors, including CPP Investments,” said Blair Jacobson, Co-President of 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. As we work to introduce this next wave of critical assets, we are confident that the team’s longstanding relationships with key data center customers and track record as reliable stewards of these assets will position us well as we seek to generate compelling risk-adjusted returns.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. Ares seeks to provide flexible capital to support businesses and create value for its stakeholders and within its communities. By collaborating across its investment groups, Ares aims to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2025, Ares Management Corporation's global platform had approximately US$546 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East.
