Partners Group acquires EdgeCore Digital Infrastructure, a hyperscale data center platform in the US

Partners Group acquires EdgeCore Digital Infrastructure, a hyperscale data center platform in the US

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  • Partners Group acquires EdgeCore Digital Infrastructure, a hyperscale data center platform in the US
    Partners Group, a leading global private markets firm, has, on behalf of its clients, acquired EdgeCore Digital Infrastructure ("EdgeCore" or "the Company"), an owner, operator, and builder of hyperscale data centers in the US.
  • Partners Group will invest up to USD 1.2 billion to fund the acquisition and buildout of existing and future data center sites.
  • Data center contracts are often long-term, with customers charged a price based on their contracted power capacity, leading to highly visible cashflows.
  • EdgeCore has four power- and shovel-ready campuses, operational data center buildings, and the ability to expand investment across the US.



Partners Group

/ Key word(s): Acquisition/Investment


Partners Group acquires EdgeCore Digital Infrastructure, a hyperscale data center platform in the US

11.11.2022 / 16:00 CET/CEST


Denver, US; 11 November 2022

  • Partners Group will invest up to USD 1.2 billion to fund the acquisition and buildout of existing and future data center sites
  • EdgeCore is a next-generation infrastructure platform that is set to benefit from global digitization themes driving demand for data center processing and storage
  • The Company signs long-term contracts with large Tier 1 data center users

Partners Group, a leading global private markets firm, has, on behalf of its clients, acquired EdgeCore Digital Infrastructure ("EdgeCore" or "the Company"), an owner, operator, and builder of hyperscale data centers in the US. Partners Group will invest up to USD 1.2 billion to fund the acquisition and buildout of existing and future data center sites.

Through this investment, Partners Group will acquire EdgeCore's existing and under construction sites, and fund future acquisitions and buildout. Headquartered in Broomfield, Colorado, EdgeCore selects, builds, and commercializes data centers for the world’s largest cloud, internet, and technology companies. Data center contracts are often long-term, with customers charged a price based on their contracted power capacity, leading to highly visible cashflows. The Company is well-positioned to benefit from global digitization themes, such as the growth of cloud computing, machine learning, AI, and 5G technologies, which are driving increasing demand for data center processing and storage. Mobile data traffic in North America is expected to grow at 24% CAGR through to 2027[1].

Partners Group will work with EdgeCore's experienced management team, which has over 140 years of combined industry experience, on its transformational value creation plan. Key initiatives include existing site expansion, acquiring and building future assets in the US, and expanding sustainability initiatives at its data center campuses.

Ed Diffendal, Managing Director, Co-Head Private Infrastructure Americas, Partners Group, says: "Through our thematic investing approach, we found rising demand for data centers in the US as service providers deploy more capacity to support businesses migrating to the cloud. EdgeCore is a unique next-generation infrastructure investment due to its strong portfolio of data center sites, advanced pipeline of shovel-ready assets in strategically important markets, and talented management team. We look forward to building out the platform."

Tom Ray, Chief Executive Officer, EdgeCore, comments: "EdgeCore differentiates itself through a combination of superior site locations, excellent reliability, flexible customer solutions, and speed to market. We build data centers in areas that maximize our pool of potential customers and design them to the performance standards of the top hyperscale customers. We have identified a pipeline of opportunities across the US and believe Partners Group's extensive experience working with infrastructure platforms, coupled with its financial resources, will enable us to execute on current and future opportunities."

Fentress Boyse, Member of Management, Private Infrastructure Americas, Partners Group, adds: "EdgeCore has strong infrastructure characteristics and is set to benefit from structural tailwinds across the data center sector. Businesses are increasingly shifting IT infrastructure to scaled outsourced cloud service provider data centers, which have more efficient power and cooling capabilities. The Company is at an inflexion point in its growth journey and our transformational value creation plan aims to build a best-in-class sustainable digital infrastructure platform for the largest demand users in this market."

Partners Group's Private Infrastructure business has USD 21 billion in assets under management and has made over 130 investments in 18 countries globally.

Partners Group was advised by Latham and Watkins, KPMG, Clifford Chance, and Ropes & Gray. EdgeCore was advised by Greenberg Traurig, RBC Capital Markets, and Ernst and Young.


[1] Ericsson Mobility Report (June 2022)

About Partners Group

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 through 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 impact 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.

About EdgeCore

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 $4.0+ billion in the United States, 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 across the US. For more information, please visit www.edgecore.com.

Partners Group US media relations contact

Prosek Partners

Email: [email protected]




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: [email protected]
Internet: https://www.partnersgroup.com/en/
ISIN: CH0024608827
Valor: 2460882
Listed: SIX Swiss Exchange
EQS News ID: 1486059



 
End of News EQS News Service

1486059  11.11.2022 CET/CEST

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