Brookfield Infrastructure has agreed to acquire Data4, a pan-European data centre platform, from alternative investment manager AXA IM Alts.
AXA IM Alts said it was selling the platform on behalf of clients for an undisclosed sum.
The firm acquired full control of Data4 in 2018 and subsequently worked with the company’s management team to drive the growth of the platform.
During AXA IM Alts’ ownership, Data4’s portfolio increased to 31 datacentres across six countries with 850MW secured power.
This accelerated expansion programme allowed AXA IM Alts to complete its business plan for the platform ahead of schedule.
The investment marks Brookfield’s first major entry into the European data centre market, which is expected to experience significant growth in the years ahead. It also further expands the group's global data centre platform.
Brookfield plans to pursue greenfield development and renewable power capabilities to further build the business throughout Europe.
The company said that 'Data4’s long-term inflation-linked contracted business model, with blue-chip hyperscale customers, provides stable and recurring revenues that fit well within Brookfield’s investment strategy'.
AXA IM Alts commented that it remained 'highly confident in the long-term value creation potential of sectors related to the storage and communication of data' and said that it would continue to actively seek acquisition and development opportunities in these asset classes in key markets across the globe.
