Real asset investor Stonepeak is investing $1.3bn in Asia Pacific data centre operator Princeton Digital Group (PDG) to fuel its expansion.
Stonepeak said its preferred equity investment and PDG’s recently announced $1.2bn debt financing brings the PDG’s total capital raised in 2025 to $2.5bn across equity and debt.
Stonepeak’s capital will support the Singapore-headquartered firm’s next growth phase, enabling greenfield development and M&A across both established and emerging Asia Pacific markets.
PDG, which is already backed by Warburg Pincus, Canadian investor Ontario Teachers’ Pension Plan and Abu Dhabi’s Mubadala, has a current portfolio of over 1.1GW across six countries. Warburg Pincus will continue to be PDG’s largest shareholder.
Andrew Thomas, senior MD at Stonepeak, said: “PDG has established itself as one of the clear leaders among digital infrastructure platforms in the Asia Pacific region. The company’s track record of execution, top-tier management team, and significant power bank in critical hub markets in APAC positions it well to serve the continued demand from hyperscalers and AI-driven platforms in the region.
“This investment is a quality fit for our Asia infrastructure strategy, and we look forward to partnering with PDG’s management team, Warburg Pincus and existing shareholders to propel the company’s next phase of growth.”
Ellen Ng, co-head of Asia real estate at Warburg Pincus, said: “As a founding investor of PDG we’ve always believed in the founders’ vision and exceptional execution capabilities and supported the company’s evolution into Asia’s preeminent data centre platform.
“This latest investment by Stonepeak is a strong validation of PDG’s market leadership and long-term strategy. As PDG’s largest shareholder, we are excited to welcome a like-minded partner to help propel the company into its next phase of growth, supporting the surging demand for AI and cloud infrastructure across the region.”
Rangu Salgame, chairman, CEO and co-founder of PDG, said: “This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation.
“Stonepeak shares our deep conviction in the unprecedented growth of AI and cloud across Asia Pacific. With this partnership, PDG is uniquely positioned to scale with speed, continue being the trusted provider to the world’s most demanding hyperscalers, and further consolidate its position as a market leader in the region.”
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