AustralianSuper invests $2.24b in DataBank for expansion
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The news: AustralianSuper invested USD1.5 billion ($2.24 billion) in data centre developer DataBank as part of a USD2 billion equity raise by the Dallas, Texas-based company to fund three new data centres in the US.
The numbers: The data centres will triple DataBank’s current power capacity to over 850MW, meeting increasing demand from AI, cloud and enterprise workloads, the companies said.
The context: The investment, AustralianSuper’s first in the US data centre market, will help fund the build-out of three new facilities in Dallas, Virginia and Atlanta.
AustralianSuper will join DataBank’s board as a minority owner, with DigitalBridge remaining the majority investor.
DataBank has raised more than USD4 billion in debt and equity over the past year.
What they said: “This investment, and our new campuses, are a game-changer for DataBank and our customers, allowing us to bring this capacity to market now and seize the incredible opportunity ahead of us,” DatabBank CEO Raul Martynek said in a statement.
"DataBank will grow and further diversify our global digital infrastructure exposure, a sector we believe will help deliver sustainable, long-term performance for more than 3.4 million members," said AustralianSuper’s head of American real assets, Derek Chu. "We're delighted to be helping DataBank, and its experienced leadership team, capitalize on the unprecedented demand for cloud and AI infrastructure."
The source: DataBank statement
