Vantage, which is also supported by US alternative asset manager DigitalBridge Group, mentioned that it wants to buy the Yondr Group’s data centre campus located in Malaysia.
Vantage Data Centres has secured a $1.6 billion investment to help expand its operations in the Asia-Pacific region, which includes the acquisition of a data centre campus in Malaysia.
Vantage operates data centres across the globe. In the Asia-Pacific region, its data centres are located in Melbourne, Australia; Fo Tan, Kwai Chung, and On Lok in Hong Kong; Osaka, Japan; Cyberjaya, Malaysia; and Taipei, Taiwan. The Malaysia campus was the largest facility in the APAC region, providing 467MW of capacity.
The investment was helped by an affiliate of Singapore’s sovereign wealth fund, General Insurance Corporation of India (GIC), and a subsidiary of the Abu Dhabi Investment Authority, both of which are currently investing in the company, according to a statement issued by Vantage Data Centres on Thursday.
Vantage, which is also supported by US alternative asset manager DigitalBridge Group, mentioned that it wants to buy the Yondr Group’s data center campus located in Malaysia. This campus is one of the largest in Southeast Asia, with a capacity of more than 300 megawatts, as stated by Vantage. News reports last week that Vantage was considering the possibility of buying Yondr’s Malaysian assets.
Aaron Wangenheim, the CEO of Yondr, expressed pride in their team in Malaysia and Singapore, highlighting that the project is a testament to Yondr’s capacity to implement and manage operations, delivering results many months before the schedule. He added that the impressive history and extensive regional knowledge of Vantage Data Centre affirms that they are an ideal partner to develop the Johor campus.
Job Mauck, Senior Managing Director and Head of Data Centers at DigitalBridge, stated that this acquisition will help Vantage speed up its growth in the Asia-Pacific region. The ongoing partnership with GIC and ADIA shows their trust, and sustained support shows confidence in the company’s capacity to handle a high-demand market.
According to the statements released by the company, new funding from GIC and the Abu Dhabi Investment Authority will support Vantage in expanding its presence in the APAC region, where demand for digital infrastructure is increasing due to the growth of artificial intelligence.
Jeremy Deutsch, President of Vantage Data Centers in the APAC region, remarked that this significant investment will represent a pivotal milestone in the company’s growth journey in the APAC region. Adding the Johor campus to their portfolio will bring APAC capacity in the region to 1GW.
Vantage mentioned that the investment and acquisition of the Johor campus are expected to close in the fourth quarter, subject to certain conditions being met.
In addition to the investment in Vantage, GIC is considering a plan to increase its stake in a Spanish hotel business, which is mainly owned by Blackstone.
The Singapore sovereign wealth fund, which already owns a 35% share in Hotel Investment Partners (HIP) and most of its properties, is now assessing a potential offer to increase its share, according to sources familiar with the situation.
GIC is conducting due diligence, with no certainty that the process will result in a deal, the sources said, who asked not to be identified while discussing private matters.
Dealmakers in European hotels have bounced back from low experiences during the pandemic era, even as interest rates rise, impacting most commercial real estate markets.
There is a significant revival in leisure travel, especially in southern Europe, and the ability to pass on increased costs through higher room rates has helped protect this industry from the deal stagnation affecting other types of investment properties.