Future Fund, Infratil boost CDC stake in $13b digital infrastructure deal
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The news: The Future Fund and Infratil have acquired a 12.04% stake in CDC Data Centres from the Commonwealth Superannuation Corporation (CSC) for over $13 billion, in the biggest digital infrastructure deal since AirTrunk’s $24 billion sale to Blackstone last year.
The numbers: The Future Fund will almost double its direct ownership acquiring 10.46% and bringing its total holding to 34.55% while Infratil will increase its stake to 49.75%.
CSC sold part of its holding but remains a shareholder with a 12.04% stake.
CEO Greg Boorer did not sell any of his 3.66% stake.
The context: The deal follows an international auction process run by Barrenjoey Capital Partners.
CDC, founded by Boorer in 2007, has grown into a leading player in Australia and New Zealand, benefiting from surging demand for AI and cloud computing.
It has total capacity of 2.5GW across its operational, under construction and development pipeline.
The company reported an after-tax profit of $201.6 million last financial year and forecasts earnings of around $330 million for the 12 months to March 31, according to accounts cited by The Australian Financial Review.
The acquisition is subject to Foreign Investment Review Board approval and is expected to close in the second half of 2025.
What they said: "With the most strategic shareholders in our corner, this transaction positions CDC perfectly to execute on our plans,” Boorer said in a statement.
"The strategic importance of these shareholders and their long-term horizon means that CDC is best positioned for making the right moves to lock in long term growth in the relevant markets."
The source: Infratil statement
