Abu Dhabi's strategic investor Mubadala Investment Company led an equity round of more than $500 million for Princeton Digital Group (PDG), a pan-Asian data centre operator. 

The sovereign investor contributed $350 million, while existing PDG shareholders Warburg Pincus and Ontario Teachers’ Pension Plan Board also participated, the Singapore-based firm said in a statement Tuesday. 

The capital infusion will help PDG, which has a portfolio of 20 data centres across five countries, consolidate in existing markets and expand to others. 

“Mubadala’s track record of long-term investments, combined with extensive know-how in the digital infrastructure space, makes it a great partner as we continue to scale our business,” said Rangu Salgame, chairman and chief executive of PDG. 

Mubadala manages a $243.4 billion portfolio that invests in multiple sectors and asset classes. In June 2020, it took a 1.85 percent stake for an investment of $1.2 billion in Indian telecom and digital services firm Jio Platforms, owned by Mukesh Ambani. 

In 2019, it invested up to $500 million in US data business company Cologix, along with investment company Stonepeak Infrastructure Partners. 

(Reporting by Brinda Darasha; editing by Cleofe Maceda)  

brinda.darasha@lseg.com 

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2022