Partners Group is reinvesting in atNorth via its infrastructure secondaries strategy, taking an approximate 10% stake in the pan-Nordic data centre operator.
The transaction follows the recent completion of atNorth’s sale by Partners Group’s direct infrastructure team to Canada Pension Plan Investment Board (CPP Investments) and Equinix in a deal valuing the platform at an enterprise value of $4bn (€3.4bn).
At the time, CPP Investments said it was investing approximately $1.6bn to own a 60% controlling interest in atNorth alongside digital infrastructure company Equinix, which will own the remaining 40% stake.
To fund the transaction and subsequent growth, CPP Investments and Equinix secured a $4.2bn financing arrangement, backed by lenders from Europe and Canada.
AtNorth operates eight data centres with over 1.5GW of secured power across the Nordic region.
Dmitriy Antropov, head of infrastructure partnership investments at Partners Group, said: “We are pleased to be reinvesting in atNorth, one of our great transformational success stories. We have conviction in its growth strategy and share the management team’s vision.
“The company is set to continue benefiting from structural tailwinds, including a diversified demand mix and increased AI deployment requirements. We appreciate the partnership with CPP Investments and Equinix and look forward to working alongside some of the most experienced data center investors in the world.”
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