US private equity group IPI Partners has made its first foray into Europe with the purchase of the Supernap Italia data centre in a deal believed to be worth €300 mln.
Located in Siziano, near Pavia, the data centre is the largest in Southern Europe with 42,000 m2 of space set within a 100,000 m2 campus.
IPI Partners was created in 2016 as a joint venture between Iconiq Capital and Iron Point Partners. The group is currently raising equity for its IPI Data Center Partners Fund II, which is targeting $1.5 bn of equity commitments, having raised over $1.1 bn by the end of 2020.
‘We are proud of the great progress we have made in establishing our market presence and demonstrating our ability to meet the capacity needs of some of the world's leading technology companies,’ said Sherif Rizkalla, CEO of Supernap. ‘IPI is the ideal partner to help us in the further development and implementation of our hyperscale infrastructures, in Italy and throughout Europe, and to accelerate growth plans.’
‘Supernap has an established management team that has built strong relationships with a strong operator base and has built a track record of developing and managing world-class data centres,’ said Matt A'Hearn, partner at IPI.
‘We see this operation as a great opportunity in Europe, a market that we believe will continue to grow at a significant rate. In relation to this investment, IPI envisages the use of resources that can make it possible to seize the opportunities arising from the expansion capabilities within and around the existing Supernap campus.’
