EdgeCore Digital Infrastructure, a global data center developer, owner, and operator, was acquired by Partners Group.
- Partners Group will invest up to USD 1.2 billion to fund the acquisition and buildout of existing and future data center sites
- Partners Group is positioned to scale EdgeCore well beyond the initial commitment
Global data center developer, owner, and operator EdgeCore Digital Infrastructure (“EdgeCore”), is pleased to announce that it has re-capitalized and is now owned by Partners Group, a leading global private market firm acting on behalf of its clients. As part of the recapitalization, Partners Group has initially committed to invest up to USD 1.2 billion to acquire and develop EdgeCore’s existing assets and fund the acquisition and development of data centers in new markets. Partners Group is positioned to scale EdgeCore well beyond the initial commitment and target markets.
Tom Ray, EdgeCore CEO and Executive Vice Chairman said: “We are pleased and honored to become a portfolio company of Partners Group. Importantly, we are excited to align with Partners Group’s team of talented investment and operating professionals. The EdgeCore team strongly believes that Partners Group brings value-add dynamics that support the growth of the EdgeCore platform and enhance the data center infrastructure and services we provide to our customers. Joining forces with a value-add team was a key goal in our recapitalization of EdgeCore, and Partners Group brings both tremendous capabilities and a strong ethos around creating added value in its portfolio companies by fostering collaboration.”
“Through our thematic investing approach, we found rising demand for data centers as service providers deploy more capacity to support businesses migrating to the cloud,” commented Partners Group’s Ed Diffendal, Managing Director and Co-Head of Private Infrastructure in the Americas. “EdgeCore represents a compelling opportunity to deepen and broaden our digital infrastructure assets and capabilities. We are excited to scale EdgeCore. We believe its strong portfolio of data center sites and advanced pipeline of shovel-ready assets in strategically important markets should enable rapid growth. We are confident that the EdgeCore team also brings embedded organizational capabilities to scale. We look forward to working with the management team and fueling the next phase of growth of the EdgeCore platform.”
Fentress Boyse, Member of Management, Private Infrastructure Americas, Partners Group, added: “EdgeCore has strong infrastructure characteristics and is set to benefit from structural tailwinds across the data center sector. Businesses continue to scale and move existing workloads to leverage outsourced models such as those offered by cloud service providers and scaled data center infrastructure providers. These outsourced models enable reduced capital and operating costs, greater scalability, advanced sustainability, and operational advantages, including enhanced reliability, resiliency, and security. EdgeCore is a market leader poised to accelerate scaling to serve its customers in existing and new markets. Our value-creation plan aims to continue to build a best-in-class sustainable digital infrastructure platform serving the world’s most demanding customers.”
RBC Capital Markets acted as the exclusive financial advisor to EdgeCore, and Greenberg Traurig acted as its legal counsel. Latham and Watkins, Clifford Chance, and Ropes & Grey acted as legal counsel to Partners Group.
About EdgeCore Digital Infrastructure
EdgeCore Digital Infrastructure passionately and obsessively serves the world’s largest cloud, internet, and technology companies with both ready-for-occupancy and fully bespoke data center capacity supported by best-in-class service-delivery capabilities. Privately held and supported by committed equity to fund customer requirements at an initial aggregate amount of USD 4.0+ billion, EdgeCore supports customer requirements by proactively investing in land, power, and vertical development in key data center locations, with building designs that meet key performance specifications. EdgeCore has four power- and shovel-ready campuses, operational data center buildings, and the ability to expand investment into new markets.
About Partners Group
Headquartered in Baar-Zug, Switzerland, Partners Group is a leading global private markets firm. Since 1996, the firm has invested USD 185 billion in private equity, private real estate, private debt, and private infrastructure on behalf of its clients globally. Partners Group seeks to generate strong returns by capitalizing on thematic growth trends and transforming attractive businesses and assets into market leaders. The firm is a committed, responsible investor and aims to create sustainable returns with lasting, positive impacts for all its stakeholders. With USD 131 billion in assets under management as of 30 June 2022, Partners Group provides an innovative range of bespoke client solutions to institutional investors, sovereign wealth funds, family offices, and private individuals globally. The firm employs more than 1,600 diverse professionals across 20 offices worldwide and has regional headquarters in Baar-Zug, Switzerland; Denver, USA; and Singapore. It has been listed on the SIX Swiss Exchange since 2006 (symbol: PGHN). For more information, please visit www.partnersgroup.com or follow us on LinkedIn or Twitter.