(Bloomberg) — GLP Pte is contemplating elevating contemporary funds to assist increase its knowledge facilities platform in China amid growing investor demand for digital infrastructure belongings, in keeping with folks acquainted with the matter.
The Singapore-based funding supervisor is in search of to boost about $500 million from buyers in trade for a minority stake within the platform, the folks stated, asking to not be recognized as a result of the matter is personal. A deal may give the China knowledge facilities a valuation of about $4 billion to $5 billion, they stated.
GLP has began sounding out potential curiosity from different digital business gamers and different funding funds, the folks stated.
GLP is likely one of the largest unbiased knowledge middle operators in China and its belongings, together with these beneath building, will assist ship about 1,400 megawatts of IT capability upon completion, in keeping with its website.
The proceeds from the fundraising may assist increase GLP’s knowledge facilities platform each organically and through acquisitions, the folks stated. Issues are preliminary and particulars comparable to the scale may nonetheless change, the folks stated.
Representatives for GLP didn’t instantly reply to requests for remark made through telephone and e-mail.
Digital infrastructure belongings comparable to knowledge facilities have turn out to be scorching belongings throughout the coronavirus pandemic as platforms supporting all the things from video streaming to on-line gaming surged in recognition. That’s led to growing curiosity from monetary buyers and business gamers in search of to realize scale by means of consolidation.
Chinese language knowledge middle firm GDS Holdings Ltd. had weighed a mixture of its enterprise with GLP’s knowledge facilities in China, though talks have stalled over valuation, Bloomberg Information has reported. Amongst offers that materialized final yr, DigitalBridge Group Inc., a digital infrastructure funding agency, acquired the data-center belongings of Hong Kong-based telecommunications supplier PCCW Ltd. for $750 million.
GLP was based in 2009 as a worldwide funding supervisor, developer and operator of logistics actual property, in keeping with its website. The agency has expanded into areas together with knowledge infrastructure, renewable power and associated applied sciences. It’s current in 17 nations and counts about $120 billion in belongings beneath administration.
