360 Capital Digital Infrastructure Fund has announced it has committed to a c. A$25M stake in the Macquarie Infrastructure and Real Assets (MIRA)-led consortium that recently acquired an 88% stake in Asia Pacific hyperscale data centre operator, AirTrunk.
The passive investment by 360 Capital Digital Infrastructure Fund is subject to customary conditions and approvals.
360 Capital Digital Infrastructure Managing Director David Yuile said AirTrunk had an outstanding track record of growth in Hyperscale data centres, a credit to the existing management team.
“We believe data centres are the factories of the future and the new investment provides the Fund with a great opportunity to benefit from APAC Hyperscale data centre growth.” he said.
The initial consortium led by Macquarie Asia Infrastructure Fund 2 (MAIF II), along with other partners under MIRA, acquired shares from Goldman Sachs, Sixth Street Partners (formerly TSSP), and AirTrunk founder Robin Khuda in a $3bn transaction. As at 30 September 2019, MIRA had approximately $A201 billion in assets under management – including 155 portfolio businesses, approximately 600 properties and 4.7 million hectares of farmland.
AirTrunk is a best-in-class hyperscale data centre platform for large cloud, content and enterprise customers across APAC. Since the 2017 launch of its first hyperscale data centre in Western Sydney, AirTrunk has rapidly grown into a leading regional platform with facilities in Sydney (Sydney West and Sydney North), Melbourne, Singapore and Hong Kong, and a well-developed expansion plan in other markets. AirTrunk’s five data centres, once fully developed, will be able to deliver a combined capacity of more than 450 megawatts.
AirTrunk is building scalable and sustainable infrastructure in key APAC markets to enable the growth of cloud. Rapid population growth, digital adoption and the shift to the cloud is driving accelerated demand by cloud and content providers for hyperscale data centre solutions as offered by AirTrunk.
TDI listed on the ASX in October 2019 with an investment strategy focused on digital infrastructure assets. At the time of listing, TDI had several investments across the data centre sector.