Manulife Investment Management’s second US infrastructure fund is acquiring a controlling stake in data centre owner and operator Serverfarm.

The Manulife Infrastructure Fund II fund has entered into an agreement to buy the interest in Serverfarm, in a deal that gives Serverfarm capital to continue its expansion across North America, Europe and Israel. Financial details were undisclosed.

Serverfarm currently operates a 125MW portfolio of eight data centres across North America, Europe and Israel that aggregate more than 1.5m sqft, and has secured additional land for future data centre developments.

Recep Kendircioglu, the global head of infrastructure at Manulife Investment Management, said the Serverfarm team have built a data centre portfolio and platform that is well positioned to capitalise on the strong secular tailwinds in the data centre market.

Kendircioglu said: “We are excited about the company’s future and our ability to support Serverfarm through its next phase of growth on behalf of our clients.”

Serverfarm’s founder and CEO, Avner Papouchado, said: “Partnering with Manulife Investment Management, an investor that shares Serverfarm’s vision for growth and customer service, will allow us to effectively address the next wave of demand from our existing and new customers.

“Our new relationship with Manulife Investment Management provides Serverfarm with additional expertise and new capital to execute on a number of attractive development opportunities and give our customers a long-term growth runway.”

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