- Sixth Street to acquire minority interest in EdgeConneX
- Broadened investor base adds new resources and expertise, supporting EdgeConneX’s long-term ambition as a leading global data center and AI infrastructure provider
NEW YORK, Sept. 24, 2024 – EQT and Sixth Street are pleased to announce that the EQT Infrastructure IV and EQT Infrastructure V funds (“EQT Infrastructure”) have signed an agreement to sell a minority stake in EdgeConneX to funds managed by Sixth Street. Having been invested in the company since 2020, EQT Infrastructure will remain the largest shareholder following the closing of the transaction.
EdgeConneX is a leading global provider of data center capacity focused on energy-efficient and sustainable designs optimized for AI and large-scale cloud deployments. Since 2020, EdgeConneX has more than tripled its built data center capacity and expanded its reach into Asia, Latin America and new European markets. Today, EdgeConneX has a global footprint of 80 data centers in operation or development in more than 50 markets across North America, Europe, APAC and South America.
The stake sale marks a strategic milestone in EdgeConneX’s journey, welcoming a strategic partner to help accelerate the company’s ability to deliver capacity and cutting-edge solutions to its customers.
“With this transaction, EQT believes EdgeConneX is well-equipped to deliver scalable, high-performance data center solutions that will power the next generation of AI,” said Jan Vesely, Partner within EQT Infrastructure’s Advisory Team. “As AI continues to drive significant changes and create new opportunities across industries, EQT remains committed to being at the forefront of developing the required datacenter, connectivity and energy infrastructure needed for AI and to ensuring that EdgeConneX and our partners across EQT Infrastructure will continue to capitalize on this powerful industry tailwind.”
Sixth Street’s investment is a result of cross-platform collaboration between the firm’s dedicated digital infrastructure and global real estate platforms, which offer scaled capital solutions for companies and assets across their respective sectors.
“We’re pleased to bring our team’s deep experience in digital infrastructure and real estate asset investing to this partnership and join EQT in supporting EdgeConneX’s strategic growth,” said Julian Salisbury, Co-Chief Investment Officer at Sixth Street. “EdgeConneX is well-positioned for future success with the scale, high-quality performance, and expanding capabilities required to meet the increasing global demand for data center capacity and services.”
The transaction is subject to customary conditions and approvals and is expected to close in Q4 2024.
Morgan Stanley & Co. LLC served as lead financial advisor, Goldman Sachs served as financial advisor and Simpson Thacher & Bartlett provided legal counsel to EQT Infrastructure. Centerview Partners LLC served as exclusive financial advisor and Debevoise & Plimpton provided legal counsel to Sixth Street.
Contact
EQT Press Office, press@eqtpartners.com