Mubadala to Sell Stake in US Data Center Company Cologix
Posted on 12/31/2021
Abu Dhabi-based Mubadala Investment Company is selling its stake in U.S. data center provider Cologix as fellow investor Stonepeak Infrastructure Partners recapitalizes the company with new partners. Stonepeak Infrastructure Partners announced the recapitalization of Cologix, the largest private interconnection and hyperscale edge platform in North America. The recapitalization is being effectuated as a sale of Cologix by Stonepeak Infrastructure Fund II LP and co-investors (Fund II) to Stonepeak-managed vehicles comprising a combination of existing Fund II investors who have chosen to reinvest in the business in partnership with a number of new third-party investors.
Stonepeak Infrastructure Fund II acquired a majority stake in Cologix in March of 2017 and subsequently partnered with Mubadala Investment Company for an incremental growth capital investment in January 2020. Since 2017, Cologix has invested approximately US$ 1 billion of incremental capital in building out the company’s footprint through various organic and inorganic initiatives.
The transaction is expected to close in the first quarter of 2022, subject to a market check process, regulatory approvals and the satisfaction of customary closing conditions.
Goldman Sachs & Co. LLC is acting as financial advisor to Stonepeak. RBC Capital Markets, LLC is acting as financial advisor to Fund II and will run the market check process. Simpson Thacher & Bartlett LLP is acting as legal counsel to Stonepeak.