Partners Group has led a $1.9bn (€1.7m) fundraising for its US data centre company EdgeCore Digital Infrastructure.
Partners Group and its clients have made the equity investment in EdgeCore to support the company’s growth and expansion of its data centre platform.
The investment will be used to expand EdgeCore’s data centre operations in Ashburn, Virginia, Phoenix, Arizona, Reno, Nevada, and Silicon Valley, California. Additionally, it will fund the development of a new data centre campus in Culpeper, Virginia.
The investment is the second equity capital raise that Partners Group has led since acquiring EdgeCore in 2022. Partners Group initially invested $1.2bn, which has been used to expand and develop data centre campuses.
Following the recent funding round, Partners Group said it will still be the majority owner of EdgeCore.
Ed Diffendal, MD, co-head infrastructure Americas at Partners Group, said: “This investment in EdgeCore is further evidence of our strong thematic conviction in the sector and the company’s growth prospects.
“Led by Lee Kestler and a fantastic management team, we think EdgeCore is well positioned to capitalise on the accelerating demand for data processing and compute storage, which is being driven by the widening adoption of generative AI, cloud computing, and 5G technologies.”
Kestler, CEO of EdgeCore Digital Infrastructure, said: “We will utilise this investment to continue meeting the booming demand for high-density data centre space. The market’s growth makes institutional partnerships that bring scaled equity capital and debt procurement to the sector more important than ever.
“Partners Group’s substantial equity commitment, coupled with a widely syndicated co-investment from their institutional and high-net-worth clients, will facilitate our platform’s further growth.”
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