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PSP Investments, Digital Bridge and TIAA Buyout Vantage Data Centers

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According to data from the Sovereign Wealth Fund Institute (SWFI), there has been a tremendous increase over the past three years in public institutional investors directly investing into data centers.

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On March 27, 2017, an investor group made up of Public Sector Pension Investment Board (PSP Investments), TIAA Investments (an affiliate entity of Nuveen), and Boca Raton-based Digital Bridge Holdings LLC acquired Santa Clara-based Vantage Data Centers, a company that owns and operates data centers from private equity firm Silver Lake Partners. TIAA Investments made the investment on behalf of TIAA’s general account. Silver Lake was hoping to fetch an excess of US$ 1 billion including debt for the deal, according to sources.

Digital Bridge Holdings was formed in 2013 by Marc C. Ganzi and Ben Jenkins, raising over US$ 6.5 billion in equity and debt capital to acquire and invest in data centers, towers and fiber/small cells. Ganzi was the Chief Executive Officer and sole Founder of Global Tower Partners. GTP was acquired by American Tower Corporation in October 2013. Ben Jenkins is a former Blackstone Group executive. This deal adds to its portfolio of current portfolio holdings such as Dallas-based DataBank, ExteNet Systems, Vertical Bridge, Andean Tower Partners, and Mexico Tower Partners.

Per deal terms, Mike Foust, Senior Advisor to Digital Bridge and former CEO of Digital Realty will join the Vantage board of directors as Chairman. Also joining the Vantage Data Centers’ board of directors is Raul Martynek of Digital Bridge.

A Former Intel Data Center

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ADIA Seeks to Sell KIC Headquarters

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The Abu Dhabi Investment Authority (ADIA) is seeking to sell the building that houses the headquarters of the Korea Investment Corporation (KIC). [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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BMO and OTPP Test Blockchain Canadian Dollar Debt Deal

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The Bank of Montreal (BMO) and the Ontario Teachers’ Pension Plan (OTPP) participated in a landmark blockchain Canadian-dollar debt transaction. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Just Group Acquires Corinthian Pension Consulting

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Just Group plc acquired a 75% ownership stake in the holding company of Corinthian Pension Consulting Limited (Corinthian Pension Consulting). Operating in the institutional world for over 12 years, Corinthian Pension Consulting provides advisory services to defined-benefit pension scheme trustees and scheme sponsors undertaking bulk scheme exercises. The remaining 25% will be retained by current shareholders of Corinthian Pension Consulting. Robert MacGregor will continue to lead Corinthian Pension Consulting, as its Chief Executive Officer. Furthermore, Corinthian Benefits Consulting Limited and Corinthian Affinity Solutions Limited will continue to operate as before, becoming part of a newly formed holding company, Corinthian Group Holdings Limited.

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