Igneo Infrastructure Partners has acquired Northleaf Capital Partners and CVC DIF’s US 75MW data centre platform.
Igneo has invested an unspecified sum to acquire Vault Digital Infrastructure, which owns a 750,000sqft portfolio of seven data centres.
The assets are located across several US markets, including: Phoenix, Arizona; Richardson, Texas; Santa Clara, California; Charlotte, North Carolina; Clarksville, Virginia; Hazelwood, Missouri; and Indianapolis, Indiana.
Established in 2018, Vault is a joint venture founded by CVC DIF, Northleaf Capital Partners and Landmark Dividend. Ownership is currently split between CVC DIF’s CIF I fund and Northleaf’s mid-market infrastructure funds, which each hold a 49% stake, while Landmark Dividend retains the remaining 2% interest.
Igneo said the acquired platform will operate as Altum Digital Infrastructure, led by Timothy Doherty, chief executive officer, and Chris Kent, chief operating officer.
Michael Ryder, partner and co-head of North America, Igneo Infrastructure Partners, said: “The data-centre sector is experiencing rapid growth as organisations expand their data and compute capabilities.
“This transaction reflects our focus on acquiring mid-market platforms with growth capacity and strong downside protection. Altum is exceptionally well positioned to serve high-quality tenants in supply-constrained markets.”
Doherty said: “Igneo’s long-term investment approach and deep digital infrastructure expertise make them the ideal partner as we continue to meet the evolving needs of hyperscale and enterprise clients.
“Altum’s strong foundation of secured power, strategically located facilities and a clear path to expansion, provides customers an outstanding runway for growth.”
Andrew Freeman, partner and head of divestments at CVC DIF, said: “We have successfully scaled the portfolio which now represents an attractive platform for future growth with these strategically located assets and a diversified, blue-chip customer base.
“This transaction is a strong example of CVC DIF’s ability to drive value creation during its investment ownership. It also highlights our ability to opportunistically exit an investment and continues our strong track record for our investors.”
Chris Rigobon, managing director and head of digital infrastructure at Northleaf, said: “We have driven significant value creation by growing Vault from a single facility into a scaled platform through a thoughtful consolidation strategy focused on individual data centres.
“Creating a platform diversified by customer, contracts and region is a prime example of Northleaf’s North American-focused, middle-market infrastructure strategy.”
Karlton Holston, EVP – data centres at Landmark, said: “We are pleased with the successful outcome of this transaction, resulting from collaboration over many years with our partners at Vault.
“This transaction exemplifies Landmark’s strong track record which has enabled us to build a leading position in the digital infrastructure sector, with over 70 data centre assets under management for our investors and clients.”
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