Ares Management (ARES) said Wednesday it has closed the Japan DC Partners I fund, its first investment vehicle dedicated to data center investment and development, with about $2.4 billion in total equity commitments.

The fund received a commitment of roughly $1.3 billion from the Canada Pension Plan Investment Board, Ares said.

The vehicle will invest in the development of three data center campuses in the Tokyo area that are expected to deliver nearly 240 megawatts of IT load combined. Ada Infrastructure will develop and operate the fund's campuses, Ares said.