Stonepeak has made a $1.5bn (€1.3bn) equity commitment to Montera Infrastructure, a newly created North American data centre company.
The infrastructure fund manager said Montera will develop and operate turnkey, build-to-suit data centres, with plans to construct and operate facilities exceeding 100MW.
Founded and led by Eanna Murphy, a data centre veteran from Yondr and Google, Montera’s executive team also includes former Oracle and Equinix personnel Craig Pennington as CTO and chief delivery officer Joe Walsh.
Murphy said: “Montera was born from a simple conviction: the digital future demands infrastructure that is faster, smarter and built with intent. With a significant capital commitment from Stonepeak and a team of seasoned hyperscale experts, we are well positioned to lead the next wave of development across North America.
“Our mission is to deliver strategically-located and scalable digital infrastructure that is engineered for rapid deployment and reliability so that our partners can focus on what matters most.”
Andrew Thomas, senior managing director and head of digital infrastructure, global ex-Europe at Stonepeak, said: “Addressing the unprecedented demand growth stemming from AI advancements and cloud computing requires expertise in data centre development, power generation and transmission, capital formation and deep relationships with the hyperscalers.
“Eanna and his team have a track record of delivering more than eight gigawatts of data-centre capacity and have been at the forefront of helping design the infrastructure strategy of hyperscale customers, from model training and tuning to inferencing at scale.”
IPE Real Assets understands that Stonepeak’s investment is being made through Stonepeak Infrastructure Fund V, its North American infrastructure fund.
Montera is Stonepeak’s fourth data centre investment in North America and its eighth worldwide. Stonepeak’s global data centre portfolio currently has over 100 facilities and more than 500MW of capacity, including companies like Cologix, CoreSite, Digital Edge and Cirion, with an additional 400MW in its development pipeline.
As previously reported, Stonepeak aims to raise $15bn for Fund V, which intends to make 12 to 15 investments in North American companies within sectors such as energy transition, transportation, logistics and communications. Investments are expected to range from $500m to $1.5bn and be held for five to seven years.
Investors in Fund V include California State Teachers Retirement System, Teachers’ Retirement System of the State of Illinois, Teachers’ Retirement System of Louisiana, Oregon Public Employees Retirement Fund and New York State Common Retirement Fund.
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