GI Partners has acquired a 65% stake in two hyper-scale data centres in the US from Digital Realty Trust.
The alternatives investment firm has invested an undisclosed sum on behalf of its Essential Tech + Science Fund (ETS Fund) to buy the majority interest in the 67MW portfolio in Elk Grove Village, Illinois.
NYSE-listed Digital Realty Trust has retained a 35% interest and will continue to manage the day-to-day operations of the properties.
Rick Magnuson, founder and executive managing director at GI Partners, said: 鈥淲e are excited to announce the formation of a joint venture with one of the leading data centre operators in the world and a company that GI Partners helped launch in 2001
鈥淲e look forward to our renewed partnership with Digital Realty and growing these assets alongside their team.鈥�
John Sheputis, managing director and head of ETS Fund, said: 鈥淭hese properties were designed to serve today鈥檚 increased dense computer customer requirements and have been exceptionally maintained by a world-class team.鈥�
Rahul Chandiok, principal, added, 鈥淭he properties are able to provide efficient, high-density solutions for artificial intelligence and machine learning deployments while also providing low-latency connectivity to the Midwest market and to other major data centre clusters.鈥�
Since launching in 2021, the ETS Fund has acquired 22 properties and is actively investing in a diverse portfolio of data centres, life sciences properties, and always-on facilities across key markets in North America.
In April last year, GI Partners raised an initial $1.45bn (鈧�1.33bn) for the US open-ended core-plus life science and technology-related real estate fund.
As previously reported, the Illinois State Universities Retirement System and the Employees Retirement System of Texas committed $75m and $100m respectively to the fund.
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