SC Capital Partners, a Singapore-based private equity real estate fund manager, has formed a $2-billion joint investment programme for data centres in the Asia-Pacific with a subsidiary of the Abu Dhabi Investment Authority (ADIA), the UAE’s largest sovereign wealth fund.
The setup will target digital infrastructure in Japan, South Korea, Singapore, and Australia and operated by SC Zeus Data Centers, a pan-Asia data centre platform of SC Capital, according to a release on Wednesday.
Separately, ADIA is committing to SC Capital’s pan-Asian opportunistic fund Real Estate Capital Asia Partners, which targets a $1-billion fundraise in its final close, while the new ADIA-SC programme will also have the opportunity to invest alongside the fund, the statement said.
“This new programme complements our existing pan-Asian opportunistic strategy and allows us to significantly scale up our data centre capabilities and platform in the fastest-developing data centre region in the world,” said Suchad Chiaranussati, chairman and founder of SC Capital Partners.
“SC Zeus Data Centers is assembling a healthy pipeline of projects and will expeditiously implement our strategy of delivering best-in-class, efficient, and sustainable data centres for our partners,” said Joe Gooi, chief executive officer of SC Zeus Data Centers,” he said.
Launched in March, SC Zeus provides a wide range of data centre solutions, including design, development, asset management, leasing and sales, project management, operations as well as technical services across the region. The platform made its debut with the launch of a $500-million hyperscale facility of 45 megawatts in South Korea.