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Dubai Holding is mulling an investment in data centre builder Hscale as it seeks to expand its European portfolio, Bloomberg reported.
Dubai Holding is working with a financial advisor to move ahead with an investment in the Bain Capital-backed firm, as the private equity giant seeks additional funding to develop its data centre business, the report said.
The hyperscale provider was launched last year after Bain Capital bought 80% of Aquila Group’s data centre business, AQ Compute, in 2024 with plans to steer the firm’s expansion of its digital infrastructure footprint across the EMEA region.
Key projects announced by London-based Hscale include a committed power capacity of 250MW and an investment of €2 billion for two hyperscale campuses in Milan, along with a pipeline across Spain, Germany and Switzerland.
With over 500 billion UAE dirhams ($136 billion) in assets, Dubai Holding is one of several state-backed investors in the GCC actively infusing capital into data centre buildout in the region. In 2023, Saudi Arabia’s Public Investment Fund partnered with the US asset manager DigitalBridge Group in a venture aimed at developing data centres in the kingdom and other GCC countries.
(Writing by Bindu Rai, editing by Seban Scaria)
