AustralianSuper, a Melbourne, Australia-based pension fund, is buying a minority stake in Vantage Data Centers Europe, Middle East and Africa (Vantage EMEA) for €1.5bn (A$2.51bn).
With the investment, AustralianSuper joins alternative asset manager DigitalBridge Group as the backer of the data centre business.
Go deeper with GlobalData
AustralianSuper and DigitalBridge aim to work together to promote Vantage Data’s development and growth of hyperscale data centres throughout EMEA.
The acquisition gives AustralianSuper access to a market with promising development potential and is its first sizable investment in hyperscale data centres, the pension fund noted.
Vantage EMEA has grown to six nations since entering the EMEA market in February 2020.
It has set up operations in financial and commercial hubs such as Berlin, Cardiff, Frankfurt, Johannesburg, Milan, Warsaw and Zurich.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAlongside EMEA, Vantage Data Centers also operates in North America and Asia Pacific.
AustralianSuper head of infrastructure Nik Kemp said: “The Vantage EMEA platform is at an exciting point in its history, with a strong pipeline of developments in growing markets across the region.
“The Vantage EMEA platform will complement our existing digital infrastructure investments and this acquisition represents an important step for the Fund as we build out our infrastructure capability in Europe.”
Vantage Data Centers president and CEO Sureel Choksi said: “As data centre demand continues to rapidly accelerate across EMEA, this investment will fuel Vantage’s ability to accelerate the growth of our environmentally friendly, large-scale data centre footprint across the region and further deepen our relationships with customers as we enable them to grow and scale their businesses with reliable, efficient and sustainable data centres.”
Subject to customary closing conditions, the deal is expected to close in the fourth quarter of 2023.
