Evolution, Warburg Pincus develop sustainable data centres

Evolution Data Centres (EDC) has entered into a joint venture with affiliates of Warburg Pincus to develop sustainable hyper-scale data centres

Singapore-based Evolution Data Centres (EDC) has formed a joint venture with affiliates of Warburg Pincus to develop hyper-scale data centres in Southeast Asia.

As part of the venture, Warburg Pincus will be committing capital from its maiden asset-level Asia real estate Fund, which successfully closed with committed capital of $2.8bn in late 2021.

Darren Webb, Co-Founder & Chief Executive Officer of EDC said: “I am delighted to announce our new partnership with Warburg Pincus. It is great to have the backing of such a credible investor who shares our passion for building and operating hyper-scale, sustainable data centres across multiple high-growth markets in Southeast Asia. This funding will help us realise our vision of being the leading sustainable data centre provider in the region.”

Embarking on the company's next stage of growth 

EDC was founded by a team of executives with over 25 years of experience in the Asian Data Centre market and an extensive track record, having deployed more than 640MW of capacity and led more than $1bn of digital infrastructure transactions in the region. It was established to address two key challenges: the lack of quality and scale of data centre capacity in emerging Asian markets, and the critical need for sustainable infrastructure in the region.

Warburg Pincus has been investing in Asia real estate companies and platforms for over 15 years. It is one of the largest and most active investors in Asia real estate, with over $7.5bn invested in over 50 real estate ventures. In 2021, Warburg Pincus successfully raised its inaugural Warburg Pincus Asia Real Estate Fund with a final close at the hard cap of $2.8bn. The Fund will be used to buy and develop real estate assets in Asia, focusing on New Economy real estate. Warburg Pincus was recognised as ‘Firm of the Year in Asia’ and ‘Capital Raise of the Year in Asia’ by Private Equity Real Estate (PERE) for 2021.

“Warburg Pincus has an outstanding track record of investing in Asia real estate and digital infrastructure. We look forward to drawing on their wealth of experience in undertaking large-scale capital expenditure programs in the region as we embark on our next stage of growth.” said Ed Martin-Sperry, Co-Founder and Chief Investment Officer of EDC.

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