Partners Group acquires EdgeCore Digital Infrastructure
Partners Group, a global private markets firm, will invest up to $1.2bn to fund the acquisition and buildout of EdgeCore Digital Infrastructure, for both existing and future data centre sites.
Partners Group's Private Infrastructure business already has a portfolio of assets under management worth $21bn, and has made over 130 investments in 18 countries across the world.
The details of the data centre acquisition
Partners Group will acquire EdgeCore's full portfolio of data centres - both the existing sites and those that are under construction - and has agreed to fund the acquisitions and buildout of planned future locations.
"Through our thematic investing approach, we found rising demand for data centres in the US as service providers deploy more capacity to support businesses migrating to the cloud,” commented Ed Diffendal, Managing Director, Co-Head Private Infrastructure Americas, Partners Group.
“EdgeCore is a unique next-generation infrastructure investment due to its strong portfolio of data centre sites, advanced pipeline of shovel-ready assets in strategically important markets, and talented management team. We look forward to building out the platform."
"EdgeCore differentiates itself through a combination of superior site locations, excellent reliability, flexible customer solutions, and speed to market,” added Tom Ray, Chief Executive Officer, EdgeCore.
“We build data centres in areas that maximise our pool of potential customers and design them to the performance standards of the top hyperscale customers. We have identified a pipeline of opportunities across the US and believe Partners Group's extensive experience working with infrastructure platforms, coupled with its financial resources, will enable us to execute on current and future opportunities."
In addition to the agreed investment, Partners Group will work with EdgeCore's management team to create the company’s transformational value creation plan. This plan will include a number of key initiatives, such as existing site expansion, acquiring and building future assets in the US, and expanding sustainability initiatives at its campuses.
"EdgeCore has strong infrastructure characteristics and is set to benefit from structural tailwinds across the data centre sector. Businesses are increasingly shifting IT infrastructure to scaled outsourced cloud service provider data centres, which have more efficient power and cooling capabilities,” explained Fentress Boyse, Member of Management, Private Infrastructure Americas, Partners Group.
“The Company is at an inflexion point in its growth journey and our transformational value creation plan aims to build a best-in-class sustainable digital infrastructure platform for the largest demand users in this market."
