Partners Group
/ Key word(s): Investment
Denver, US; 4 September 2024
Partners Group, one of the largest firms in the global private markets industry, acting on behalf of its clients, has led a USD 1.9 billion equity investment in portfolio company EdgeCore Digital Infrastructure ("EdgeCore" or "the Company"), a leading developer, owner, and operator of scalable hyperscale data centers in the US. The investment will fund the continued development and expansion of EdgeCore's data center platform. The investment is the second equity capital raise that Partners Group has led since acquiring EdgeCore in 2022 and was conducted in conjunction with the firm's clients. The capital will be used for expansion across EdgeCore's existing locations, in Ashburn, VA, Phoenix, AZ, Reno, NV, and Silicon Valley, CA, and the development of its recently announced data center campus in Culpeper, VA. Headquartered in Denver, CO, EdgeCore has a highly experienced management team that commercializes data center sites leased under long-term contracts to leading companies in the cloud ecosystem, including the world's largest internet and technology companies. Since acquiring EdgeCore, Partners Group has been supporting management on transforming the Company into a leading data center platform in the US. Key value creation initiatives have included expanding existing sites, the acquisition and construction of future assets, and the implementation of sustainability initiatives. Ed Diffendal, Managing Director, Co-Head Infrastructure Americas, Partners Group, says: "This investment in EdgeCore is further evidence of our strong thematic conviction in the sector and the Company's growth prospects. Led by Lee Kestler and a fantastic management team, we think EdgeCore is well positioned to capitalize on the accelerating demand for data processing and compute storage, which is being driven by the widening adoption of generative AI, cloud computing, and 5G technologies." Lee Kestler, Chief Executive Officer, EdgeCore Digital Infrastructure, comments: "We will utilize this investment to continue meeting the booming demand for high-density data center space. The market's growth makes institutional partnerships that bring scaled equity capital and debt procurement to the sector more important than ever. Partners Group's substantial equity commitment, coupled with a widely syndicated co-investment from their institutional and high-net-worth clients, will facilitate our platform's further growth." By the end of 2023, the initial USD 1.2 billion equity capital investment made by Partners Group at the time it acquired EdgeCore had been fully committed through the expansion and development of data center campuses. Partners Group will remain the majority investor in the Company following the latest equity capital raise. Partners Group's Infrastructure business has USD 26 billion in assets under management. About Partners Group Partners Group media relations contact End of Media Release |
| Language: | English |
| Company: | Partners Group |
| Zugerstrasse 57 | |
| 6341 Baar | |
| Switzerland | |
| Phone: | +41 41 784 60 00 |
| Fax: | + 41 41 784 60 01 |
| E-mail: | partnersgroup@partnersgroup.com |
| Internet: | https://www.partnersgroup.com/en/ |
| ISIN: | CH0024608827 |
| Valor: | 2460882 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 1981661 |
| End of News | EQS News Service |
1981661 04.09.2024 CET/CEST
