Princeton Digital Group (PDG), the Singapore-based data centre operator, announced that it has secured a $1.3 billion investment commitment from US infrastructure and real estate investment firm Stonepeak.
The company, backed by Warburg Pincus, Ontario Teachers’ Pension Plan, and Mubadala, said it has signed a definitive agreement with Stonepeak for the said preferred equity investment.
The deal brings PDG’s total capital raised in 2025 to $2.5 billion, following a previously announced $1.2 billion debt financing earlier this year. PDG operates over 1.1 gigawatts of data center capacity across six Asia Pacific markets.
Stonepeak’s long-term capital injection will support PDG’s next phase of growth, targeting both established and emerging markets in Asia Pacific, PDG said in a statement.
“This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation,” said Rangu Salgame, chairman, CEO, and co-founder of PDG.
Warburg Pincus will remain PDG’s largest shareholder following the transaction, per the announcement.
Princeton Digital Group was co-founded in 2017 by Salgame as a data centre operator in Asia. It currently has 20 data centres across five countries. It serves internet and cloud companies and financial institutions.
The company raised $500 million in February 2022 in an equity funding round led by Mubadala Investment Company, a state investor for the Abu Dhabi government.
Last year, it secured its first $280 million green loan that will help finance its data centre campus in Malaysia. It secured the green loan from Maybank, Standard Chartered Bank, and UOB Malaysia for its 150MW, AI-ready JH1 campus in Sedenak Tech Park (STeP) in Johor.
Stonepeak’s $1.3 billion investment in PDG strengthens its position in Asia Pacific’s fast-growing digital infrastructure market, particularly in data centres supporting AI and cloud services.
“This investment is a quality fit for our Asia infrastructure strategy, and we look forward to partnering with PDG’s management team, Warburg Pincus, and existing shareholders to propel the company’s next phase of growth,” said Andrew Thomas, senior managing director at Stonepeak.
It complements Stonepeak’s existing platform in Singapore, Digital Edge, and aligns with its strategy to expand exposure to hyperscale infrastructure assets in key Asia Pacific market. Stonepeak manages $73 billion in assets.
Last year, Stonepeak announced the final close of its maiden Asia-Pacific fund, Stonepeak Asia Infrastructure Fund, at $3.3 billion. The fund seeks to invest in telecom, transportation, logistics, and energy transition.
It also recently entered into a $1 billion strategic partnership with The Arab Energy Fund to invest in energy and infrastructure across the Middle East. The partnership targets to invest in critical energy projects.
