The appetite among sovereign wealth funds for investing in the logistics sector shows no signs of easing following the news that Abu Dhabi-based Mubadala has acquired a stake in Singapore-based Princeton Digital Group (PDG).
Mubadala invested $350 million in a funding round that also included Warburg Pincus and Ontario Teachers’ Pension Plan Board, raising more than $500 million.
PDG has 20 date centres across Asia serving cloud providers and financial institutions.
According to the company, the funds will be used to deepen its presence in Japan, India, Singapore, China and Indonesia and to expand into new markets within Asia which has become one of the fastest growing data centre markets globally.
In 2019, Mubadala invested $500 million in US data centre Cologix.
And earlier this month Saudi fund manager Saudi Fransi Capital launched a data centre fund.
©2022 funds global mena