DigitalBridge and La Caisse Complete Yondr Group Acquisition
DigitalBridge Group, Inc. and La Caisse have completed its acquisition of Yondr Group from Cathexis Holdings, L.P., establishing a joint control structure over the hyperscale data centre developer and operator.
The transaction positions both investors to address growing capacity requirements from technology companies seeking advanced data processing capabilities.
Notably, La Caisse is investing alongside DigitalBridge-managed investment vehicles in the deal, which marks another collaboration between the two firms in digital infrastructure. The Canadian pension fund previously acquired a 30% stake in Vertical Bridge in 2019 – a communications infrastructure company within DigitalBridge's portfolio – and both investors supported Vertical Bridge's $3.3 billion tower transaction with Verizon in 2024.
Yondr operates data centres designed for hyperscale technology companies, with more than 420MW of committed capacity and land holdings that could support over 1GW of total potential capacity.
The company has also developed facilities to meet demand from cloud computing expansion and artificial intelligence applications, which require significant data processing capabilities.
Aaron Wangenheim and Sandip Mahajan appointed to leadership roles
As part of the acquisition closing, Aaron Wangenheim has been appointed CEO of Yondr, succeeding Paul Cossell, who is retiring after two and a half years in the role.
With more than two decades of data centre experience, Aaron worked for more than a decade at T5 Data Centers, where he served eight years as Chief Operating Officer. He most recently worked as an advisor and developer of data centre solutions, evaluating property and operational aspects of the industry for investors.
Additionally, Sandip Mahajan joins as Chief Financial Officer, replacing Chester Reid, who is stepping down after more than two years to pursue other interests. Sandip has more than three decades of financial leadership experience in infrastructure investment, leveraged finance and debt and equity raising.
He previously served as Chief Financial Officer at Mitie Group PLC and held project finance roles at Balfour Beatty PLC, specialising in infrastructure equity investments.
“Yondr has a track record as a leading developer, owner and operator of hyperscale data centres and I’m excited to be joining the company as CEO at such a pivotal time for the business and the industry,” Aaron says.
“I look forward to leading Yondr through its next phase of growth with the backing of two world-class investors that appreciate the critical role we play in supporting our clients.”
DigitalBridge to expand data centre portfolio through strategic partnership
The acquisition ultimately seeks to strengthen DigitalBridge’s data centre holdings as the firm continues to focus on partnerships with hyperscale, technology and AI companies.
Jon Mauck, Senior Managing Director and Head of Data Centers at DigitalBridge, says the transaction aligns with the firm's strategy of developing scaled capacity for AI and cloud computing applications.
“We're thrilled to finalise our acquisition of Yondr alongside La Caisse,” he explains. “With a diverse global portfolio of campuses, Yondr further strengthens DigitalBridge's world-class data centre portfolio and reinforces our focus on being a global partner to the leading hyperscale, technology and AI companies that are driving the digital economy.”
When it comes to the La Caisse partnership, both firms are eager to create long-term value via its digital infrastructure investments.
Jon adds: “We look forward to working alongside Aaron and Sandip, who bring leadership experience, as we support Yondr’s strategy of developing and operating scaled capacity to meet the demands of AI and cloud computing.
“We are also very pleased to partner again with La Caisse, who shares our partnership oriented approach to long-term value creation.”
La Caisse to target direct investment opportunities in the data centre sector
La Caisse has been evaluating opportunities in the sector and identified Yondr as a platform to capitalise on growth driven by digital transformation and AI applications.
Emmanuel Jaclot, Executive Vice-President and Head of Infrastructure at La Caisse, says the investment represents the pension fund’s strategy of direct investment in data centre assets.
“Over the past few years, we have explored various direct investment opportunities in the data centre space and Yondr has stood out as a compelling platform to capitalise on the growth of the sector,” he says.
“At the end of 2024, we joined forces with DigitalBridge – a trusted partner – to invest in Yondr's next development phase under renewed leadership and ownership.”
The investment also reflects La Caisse’s view of digital infrastructure value and Yondr’s capacity to scale operations.
Emmanuel adds: “This investment reflects our conviction in the value of digital infrastructure and our confidence in Yondr's ability to scale with agility, innovate and deliver AI-ready data solutions at pace.”
Yondr was formed in 2018 and has established partnerships with technology companies requiring hyperscale data centre capacity.
William Harrison, CEO of Cathexis, says: “I am proud to have supported Yondr on its journey since its formation in 2018.
“Yondr has become a vital infrastructure partner to many of the world's largest technology companies and I believe DigitalBridge and La Caisse are the right partners to support Yondr through its next stage of growth. I look forward to seeing what the business will achieve.”