Partners Group has agreed to acquire Australia’s GreenSquare Data Centers and announced plans to invest up to A$1.2 billion ($760 million) in their next-generation data centre platform, according to an announcement on Thursday.
The global investment firm has invested over $4 billion in data centres since 2021. This includes its $1.9 billion acquisition of EdgeCore, a leading hyperscale data centre platform in the US last year, and atNorth, a pan-Nordic data centre platform.
Partners Group’s ownership will enable GreenSquareDC to build and operate large-scale sustainable data centres across key Australian cities.
“Data centres are on a structural growth path supported by thematic tailwinds, including the increasing use of generative AI, growth in cloud adoption, and the migration of data centre workloads to co-location sites. The sector has strong infrastructure characteristics driven by the essentiality of the service, long-term contracts, and significant capital intensity,” said Nicholas Kuys, Managing Director, Infrastructure Asia, Partners Group.
GreenSquareDC recently acquired a brownfield data centre in Sydney that has an existing powered shell and adjoining landbanks that will enable the campus to grow to 96 MW.
Several land options have also been secured in strategic locations throughout Sydney, Melbourne, and Perth, which have established and planned submarine cables and strong fiber connections.
Partners Group’s Infrastructure business has $27 billion in AUM globally. The firm was advised by Clifford Chance and Alvarez & Marsal on the transaction.
Bharath Rajagopalan, Member of Management, Infrastructure Asia, Partners Group, adds: “The Australian data centre sector is experiencing robust demand from hyperscale customers for high-density spaces to support cloud and AI workloads. The implementation of supportive policies driving domestic AI research and sovereign AI models in Australia is also expected to support future demand. We are excited to support GreenSquareDC in its mission to deliver reliable, scalable, and sustainable data center solutions to customers.”
Bharath Rajagopalan, a Member of Management in Infrastructure Asia at Partners Group, stated that the Australian data centre sector is experiencing robust demand from hyperscale customers for high-density spaces to support cloud and AI workloads. He noted that the implementation of supportive policies promoting domestic AI research and sovereign AI models in Australia is expected to further drive future demand.
