Rivage Investment, a mid-market private infrastructure credit manager, has led an £85m (€98.3m) financing facility for nLighten, the pan-European edge data centre business backed by I Squared Capital, to fund its expansion across the UK.
Future Growth Capital (FGC), a private markets solutions business formed by Standard Life and Schroders, said it has agreed a £20m senior loan to nLighten.
The financing facilities are secured against a ringfenced portfolio of edge colocation data centres at nine locations in the UK. Rivage Investment said the senior secured financing will support the development of nLighten’s UK edge data centre platform.
NLighten has more than 30 data centres across seven countries.
Chris Hart, executive director at Rivage Investment UK, said: “This investment reflects our mid‑market strategy and the increasing importance of the UK market, following the establishment of our London‑based investment team last year.”
Max Gilbert, infrastructure director at Future Growth Capital, said: “This investment provides an attractive risk-adjusted return profile for long-term pension capital, supported by senior security over a diversified UK portfolio and meaningful sponsor support.
“We are pleased to support nLighten and I Squared as the business executes its operational upgrade and growth plan across the UK.”
Mike Ambery, retirement savings director at Standard Life, said: “Investing in key UK infrastructure to drive economic development demonstrates the potential of DC pension capital to support business growth, while also offering pension scheme members the opportunity for better outcomes.
“Through our joint venture vehicle – FGC, we are pleased to be part of nLighten’s continued growth plans.”
Chad McCarthy, founder and chief technology officer at nLighten said the financing from Rivage Investment and Future Growth Capital will support the expansion of the firm’s edge data centre platform.
McCarthy added: “This financing supports our ongoing investment in capacity, resilience and energy efficiency across our regional facilities in the UK.”
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