Apollo Infrastructure funds have created an investment partnership with data centre developer Yondr.
The unnamed funds have agreed to provide a “significant capital commitment” to Yondr by way of a structured instrument as part of the newly created partnership.
Yondr, a subsidiary of Cathexis Group, owns and operates a hyperscale data centre in the Netherlands, with four additional sites in construction across Europe and the US expected to come online between 2024 and 2025, all of which are fully contracted with large, investment-grade counterparties. The capital injection will help Yondr strengthen its service offering and grow its hyperscale data centre portfolio.
As part of the partnership, Trevor Mills and Andrew Kirby, partners at Apollo, will join Yondr’s board of directors.
Mills and Kirby said: “With increasing global demand for hyperscale data centre capacity, we believe that nimble, proven build-to-suit players like Yondr are well positioned for sustainable growth.
Paul Cossell, CEO at Yondr Group, said: “Apollo’s support of our global growth ambitions is truly exciting for us at Yondr. This allows us to create long-term sustainable value for clients, and to rapidly deploy cloud solutions, in line with the growing demands of our select, blue-chip client base.”
Mills and Kirby added: “Yondr has rapidly developed a leading position in the global hyperscale sector since its inception in 2019, and we are pleased to support Paul, the management team and Cathexis as they scale to meet the growing demand of their customer base.”
Dylan Foo, head of global infrastructure at Apollo, said: “We believe this transaction demonstrates our ability to navigate complexity amid continued economic uncertainty and structure an attractive, tailored investment which supports the needs of both Yondr and Apollo funds.”
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