Singapore-based SC Capital Partners has launched SC Zeus Data Centers, a data centre platform to target opportunities in the fastest-growing markets of the Asia-Pacific.

The partnership has recently committed to its first investment in Seoul, South Korea where they will develop a US$500m (€441.5m) hyperscale data centre.

SC Capital Zeus Data Centres will target the Tier 1 Asia markets of Japan, South Korea and Singapore (which recently lifted a moratorium on new data centres), along with the emerging markets of Jakarta, Indonesia and Bangkok, Thailand in Southeast Asia.

Joe Gooi, chief executive officer of SC Zeus, told IPE Real Assets: “We have been working on opportunities since late 2020, and have identified a strong pipeline of potential deals.

“The site in Seoul will tap growing demand for data centre space on the back of a huge Internet market in South Korea – we are already fielding expressions of interests from prospective tenants.”

Gooi, who was previously head of portfolio for Asia-Pacific at Digital Realty, and his team at SC Zeus have worked extensively across Asia’s data centre industry, and this led SC Capital to form the partnership.

Suchad Chiaranussati, founder and chairman of SC Capital, said that, under the partnership arrangement, his firm would provide capital and funding to the platform.

“We have capital in our opportunistic funds and access to a network of investors who have shown keen interest in investing in data centres,” he said.

The partnership will initially leverage on SC Capital’s real estate funds to pursue its data centre strategy. SC Zeus may launch a separate data centre fund in the future.

Asked if SC Capital was starting out too late on data centres, he said: “There will never be a better time than now. Our lives centre around data. Governments, corporations, and individuals are increasingly moving towards utilising and storing digital data.

“So it is not a question of being too late or too early. Any time that we find the right talent is the right time to enter the sector.”

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