The European Investment Fund (EIF) has announced an initial cornerstone investment of €150 million in the PIMCO European Data Centre Opportunity Fund.

The EIF said CDP Equity (CDP Group) is joining the initiative with a proportional investment of €50 million.

The fund said demand for data centres continues to surge, driven by increased digitalization, regulatory requirements and advances in artificial intelligence.

“The Fund is dedicated to the development of new data centres in high growth European markets, including Madrid, Milan, Berlin, Zurich, Warsaw, Marseille and Athens, amongst others,” said EIF.

“This investment is made possible with the support of the InvestEU Programme, guaranteeing a total of €86 million of EIF and CDP Equity’s joint investment.

“The InvestEU Programme aims to mobilise investments across Europe.

“The Fund will focus on strengthening Europe’s efforts in digitalisation and data sovereignty. It will expand the capacity to deliver low-latency data, providing essential local infrastructure for governments, businesses, and citizens across the continent.”

EIF CEO Marjut Falkstedt said: “This investment underscores our commitment to fostering a strong digital ecosystem in Europe.

“By supporting the development of data centres, we are not only addressing the immediate demand for data infrastructure, but also laying the groundwork for sustainable growth and innovation in the digital economy.”

Francesco Mele, CEO of CDP Equity, said: “Our investment in the PIMCO European Data Centre Opportunity Fund reflects CDP Equity’s strong commitment to accelerating digital transformation and strengthening strategic infrastructure in Italy and across Europe.

“By supporting data centre development, we are helping to lay the foundations for a more competitive, innovative, and resilient digital economy, in line with the objectives of CDP Group our 2025–2027 Strategic Plan.”