MIAMI and MONTREAL, Nov. 2, 2023
/PRNewswire/ -- Power Sustainable, an alternative asset manager and
wholly-owned subsidiary of Power Corporation of Canada (TSX:POW), today announced an
investment in Vantage Data Centers ("Vantage") through its Power
Sustainable Infrastructure Credit Manager L.P. ("PSIC") platform.
Vantage is a leading global developer and operator of data center
campuses with approximately 2.0 Gigawatts (GW) of critical IT
capacity, including both operational and under development data
centers, across 30 campuses in five continents. Vantage is owned by
a consortium of investors led by DigitalBridge Group, Inc.
("DigitalBridge"), a global alternative asset manager dedicated to
digital infrastructure investments.
Proceeds from the term loan will be used to facilitate the
continued buildout of Vantage's high-quality data center portfolio
as it continues to expand its footprint across key North American
markets.
"We are thrilled to be partnering with Vantage and look forward
to supporting the company as it executes on a robust project
pipeline that will add critical, energy-efficient hyperscale data
center capacity to the North American market. Vantage's strong
commitment to building and operating data centers that prioritize
sustainability and environmental responsibility is fully aligned
with our stainability objectives," said Daniel Fein, Principal at PSIC.
Data centers are increasingly critical infrastructure to society
given the growth in cloud computing, data consumption, generative
AI, and other factors. Power Sustainable views Vantage as a
best-in-class developer and operator of hyperscale data centers
that demonstrate industry-leading energy and water usage
efficiency.
This investment represents PSIC's inaugural investment and comes
shortly after Power Sustainable announced the closing of
a US$600 million commitment to
the strategy by subsidiaries of Great-West Lifeco. PSIC seeks to
directly originate, structure, and manage bespoke credit
investments in infrastructure projects and companies that
demonstrate positive sustainability characteristics. The strategy
targets investments in the energy and decarbonization,
transportation and logistics, digital infrastructure, social
infrastructure, and utilities and recycling sectors.
About Power Sustainable
Power Sustainable is a climate-focused investment manager which
finances companies and projects aiming for both competitive returns
and positive sustainability outcomes.
The firm offers institutional investors exposure to alternative
assets which accelerate and scale sustainable solutions across
multiple industries.
With just over CAD$4 billion in
assets under management, Power Sustainable's mission is to catalyze
capital towards clean global solutions.
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SOURCE Power Sustainable
