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Sovereign Funds Eye $10B Data Center Deal
2 Feb
Summary
- GIC and Mubadala are in talks to join KKR and Singtel.
- The deal could value STT GDC at over $10 billion.
- The sovereign wealth funds would be minority co-investors.
Singapore's GIC Pte and Abu Dhabi's Mubadala Investment Co. are in negotiations to join a consortium led by KKR & Co. and Singapore Telecommunications Ltd. The group is exploring the potential acquisition of STT GDC Pte, a prominent data center operator. This prospective deal represents a significant move in the digital infrastructure market, with talks potentially valuing STT GDC at more than $10 billion, inclusive of debt.
Should the transaction proceed, the sovereign wealth funds from Singapore and Abu Dhabi are slated to act as minority co-investors, supporting the KKR-led bid. These discussions are ongoing, with individuals familiar with the matter suggesting the deliberations are private. The potential scale of this transaction underscores the growing investor appetite for digital infrastructure assets.
