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Abu Dhabi's strategic investor Mubadala Investment Company led an equity round of more than $500 million for Princeton Digital Group (PDG), a pan-Asian data centre operator.
The sovereign investor contributed $350 million, while existing PDG shareholders Warburg Pincus and Ontario Teachers’ Pension Plan Board also participated, the Singapore-based firm said in a statement Tuesday.
The capital infusion will help PDG, which has a portfolio of 20 data centres across five countries, consolidate in existing markets and expand to others.
“Mubadala’s track record of long-term investments, combined with extensive know-how in the digital infrastructure space, makes it a great partner as we continue to scale our business,” said Rangu Salgame, chairman and chief executive of PDG.
Mubadala manages a $243.4 billion portfolio that invests in multiple sectors and asset classes. In June 2020, it took a 1.85 percent stake for an investment of $1.2 billion in Indian telecom and digital services firm Jio Platforms, owned by Mukesh Ambani.
In 2019, it invested up to $500 million in US data business company Cologix, along with investment company Stonepeak Infrastructure Partners.
(Reporting by Brinda Darasha; editing by Cleofe Maceda)
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