PAG Real Estate, the real estate arm of Asia-focused private equity firm PAG, has officially launched its new regional platform that seeks to acquire and run assets of the digital infrastructure ecosytem, including cloud and data centres.
The platform, FLOW Digital Infrastructure, seeks to capitalise on the rapidly growing demand for digital infrastructure in the Asia-Pacific region, according to the announcement.
It will target colocation, cloud, hyperscale, and enterprise data centres, as well as network and fibre assets across the region.
“Just as railways, seaports, and airports evolved to manage the flow of physical goods around the world, our investments in digital infrastructure must manage the flow of the bits and bytes that increasingly power our region’s economies and our everyday lives,” according to Kris Kumar, the chairman of the new venture.
PAG Real Estate already has around $2 billion in investments in the sector, and plans to invest another $10 billion in it over the short- and medium-term, the company earlier said.
The launch of the new company comes as data usage around the world has and will increase, it said, adding that the Asian data centre market is expected to grow at a compound annual growth rate of 10% to 12% through 2024.
With the official launch of FLOW, the firm also announced the appointment of several senior officers to the platform. These include Teruo Iwamoto, chief financial officer and head of acquisitions; Grant Yabsley, director, Corporate Development Southeast Asia; Ari Druker, director, Corporate Development North Asia; and Danny Sawlani, director, Investments.
The new team, according to PAG Real Estate, has more than eight decades of experience in the Asian digital infrastructure space, including investment, acquisition, financing, and developing digital infrastructure projects.
“PAG Real Estate has been actively investing in digital infrastructure over the past few years, and we expect to make significant investments in the sector in the years ahead,” said PAG Group president Jon-Paul Toppino.