Partners Group is acquiring GreenSquare Data Centers, with plans to invest up to A$1.2bn into the Australian data centre platform.
The global private markets investor said the capital will support GreenSquareDC in becoming an owner, developer and operator of large-scale data centres across Australian cities, with revenue generation through long-term contracts.
GreenSquareDC recently acquired a site in Sydney, consisting of a brownfield data centre with existing infrastructure and adjacent land for potential expansion to 96MW of compute capacity. The company has also secured land options in Sydney, Melbourne and Perth.
Partners Group, which has invested over $4bn in data centres since 2021, expects to apply its platform-building approach to GreenSquareDC. This includes supporting the management team in site acquisition, developing a pipeline of future opportunities, establishing customer and supplier relationships and implementing operational capabilities, the company said.
Nicholas Kuys, managing director for infrastructure in Asia at Partners Group, said: “Data centres are on a structural growth path supported by thematic tailwinds, including the increasing use of generative AI, growth in cloud adoption, and the migration of data-centre workloads to co-location sites.
“The sector has strong infrastructure characteristics driven by the essentiality of the service, long-term contracts and significant capital intensity. GreenSquareDC represents an opportunity to back a talented management team in the growing Australian market.”
Bharath Rajagopalan, member of management, infrastructure Asia at Partners Group, said: “The Australian data centre sector is experiencing robust demand from hyperscale customers for high-density spaces to support cloud and AI workloads.
“The implementation of supportive policies driving domestic AI research and sovereign AI models in Australia is also expected to support future demand. We are excited to support GreenSquareDC in its mission to deliver reliable, scalable and sustainable data-centre solutions to customers.”
Walt Coulston, CEO of GreenSquareDC, said: “Our customer-centric approach, efficient design, leading technology and sustainability focus positions us well in the market.
“The acquisition of our first site in Sydney provides GreenSquareDC with a speed-to-market advantage in serving our customers’ near-term requirements. We look forward to working with Partners Group and leveraging its significant experience in building infrastructure platforms globally to scale our offering.”
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