Fengate Asset Management has led a C$1.8bn (€1.22bn) fundraising by Canadian data centre provider eStruxture Data Centers.
The alternative investment manager said it has joined a group of institutional secondary investors co-led by Partners Group and specialist global private markets and secondary investor Pantheon to invest the capital.
Fengate said it is investing on behalf of Fengate Infrastructure Fund III, Fengate Infrastructure Fund IV funds and their affiliated entities, including an investment by the LiUNA Pension Fund of Central and Eastern Canada to help eStruxture grow its portfolio of 15 facilities nationwide.
Jonathan Wener and the Wener Family Office, along with Todd Coleman, founder, president, and CEO of eStruxture, and the accompanying management team, will also reinvest a significant portion of their holdings in eStruxture.
With the latest investment, Fengate said it has “significantly increased its equity stake in eStruxture”.
Lou Serafini Jr, president and CEO of Fengate, said: ”For years, Fengate has had a front-row seat to the meteoric success of eStruxture, and that intimate perspective gives us full confidence to continue our relationship through this next exciting growth phase.”
Coleman said the partnership with Fengate marks a “transformative moment for eStruxture”. “It not only reflects our shared commitment to advancing Canada’s digital landscape but also positions us to lead in delivering highly scalable and sustainable digital infrastructure solutions that will empower businesses across Canada and beyond.”
George Theodoropoulos, managing partner at Fengate, said: “Digital is a sector focus for our infrastructure business, and increasing our investment in eStruxture is an exciting and significant step toward realising our digital infrastructure strategy.”
Wener said: “The eStruxture team is truly best-in-class. Eight years ago, eStruxture was nothing but an idea. Today, we are Canada’s leading data centre platform. Notwithstanding all we have accomplished, we believe the best is yet to come.”
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