Latest news with #PrincetonDigitalGroup
Forbes
a day ago
- Business
- Forbes
Stonepeak Invests $1.3 Billion In Warburg Pincus-Backed Data Center Operator Princeton Digital
Racks of computer servers in a data center. Princeton Digital Group (PDG)—a Singapore-based data center operator backed by U.S. private equity firm Warburg Pincus—said Thursday it has agreed to sell $1.3 billion of its shares to New York-based infrastructure-focused investment firm Stonepeak. The fresh capital injection—which brings to $2.5 billion total funds raised this year, including the $1.2 billion in debt raised in May—will support its expansion across Asia, Princeton Digital said in a statement. 'This milestone investment from Stonepeak is a strong endorsement of PDG's strategy, execution, and sustained value creation,' Rangu Salgame, chairman, CEO and cofounder of PDG said in the statement. Salgame and Varoon Raghavan, the company's chief operating officer, cofounded Princeton Digital in 2017 in partnership with Warburg Pincus. Since then, the company has grown to become one of Asia's biggest data center operators with a total capacity of more than one gigawatts across 20 facilities in China, India, Indonesia, Japan, Malaysia and Singapore. PDG also counts the Ontario Teachers Pension Plan and Abu Dhabi's Mubadala among its existing investors. Stonepeak is investing in Princeton Digital to tap into some of the world's fastest growing digital hubs. Data Center capacity across the Asia Pacific will double to 24 gigawatts by 2030, surpassing the projected 18.3 gigawatt capacity in the U.S., according to a recent report by real estate consultant Cushman & Wakefield. 'As PDG's largest shareholder, we are excited to welcome a like-minded partner to help propel the company into its next phase of growth, supporting the surging demand for AI and cloud infrastructure across the region,' Ellen Ng, co-head of Asia real estate at Warburg Pincus said. Led by U.S. billionaire Michael Dorell—who has an estimated net worth of $8.5 billion according to Forbes—Stonepeak manages $73 billion in assets. The firm invests in sectors such as transportation and logistics, digital infrastructure, energy, and real estate. 'PDG has established itself as one of the clear leaders among digital infrastructure platforms in the Asia Pacific region,' Andrew Thomas, senior managing director at Stonepeak said. 'The company's track record of execution, top-tier management team, and significant power bank in critical hub markets positions it well to serve the continued demand from hyperscalers and AI-driven platforms in the region.'
Bloomberg
2 days ago
- Business
- Bloomberg
Data Center Expansion in Asia
Princeton Digital Group is getting a $1.3 billion investment from Stonepeak to expand its data center operations in Asia. PDG Chairman and CEO Rangu Salgame speaks with Ed Ludlow on 'Bloomberg Tech.' (Source: Bloomberg)
Bloomberg
27-06-2025
- Business
- Bloomberg
Allianz GI, Keppel Join Princeton Digital's $400 Million Loan
Private credit funds Allianz Global Investors and Keppel Credit will come in as lenders for data center operator Princeton Digital Group 's $400 million private credit loan, according to people familiar with the matter. Other lenders in deal are pension fund Ontario Municipal Employees' Retirement System, Sumitomo Mitsui Banking Corp., Standard Chartered Plc and bookrunners Barclays Plc, BNP Paribas and Deutsche Bank AG, said the people familiar, who asked not to be identified discussing private matters. The allocations are set to be finalized next week, they said.
CNBC
14-05-2025
- Business
- CNBC
We are insulated from the US-China AI chip rivalry: Princeton Digital Group CEO
Rangu Salgame, Group Chairman and CEO of data center operator Princeton Digital Group, weighs in on the impact of the US-China tech rivalry on its business.
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Business Standard
05-05-2025
- Business
- Business Standard
Princeton Digital seals Rs 125 cr annual lease deal in Navi Mumbai's Airoli
Singapore-based Princeton Digital Group (PDG), Asia's leading data centre provider, has taken on lease over 1 million sq. ft. of space across three buildings in the Airoli Knowledge Park, Navi Mumbai—marking a major expansion of its digital infrastructure footprint in India. The properties, owned and sub-leased by Gigaplex Estate Pvt Ltd, will be used by Princeton Digital Group (PDG) to set up large-scale data center operations. The transaction spans three buildings—9A, 7, and 11—located on Plot No. IT-5, with a combined chargeable area of 10,58,568 sq. ft, according to property documents accesed by CRE Matrix, a real estate analytics firm. Lease details: Effective Rent Rate: Rs 98.50 per sq. ft. across all buildings Lease Period: 20 years for Buildings 9A & 7, and 40 years for Building 11 Lock-In Period: 15 years Annual Rent Escalation: 4% for the first 15 years, increasing to 5% thereafter In addition to the base rent, parking charges of Rs 5,000 per car per month and complex maintenance charges of ₹2 per sq. ft. (with 5% annual escalation) will apply, further elevating the value of the deal. With a total starting monthly rent of ₹10.42 crore, the first-year rent alone amounts to ₹125.04 crore, excluding other costs such as maintenance and parking. Given the 15-year lock-in and 20–40 year lease durations, the long-term financial commitment exceeds several thousand crores. This reflects Princeton Digital Group's confidence in India's digital growth trajectory and its intent to build out a large-scale hyperscale data center hub in Navi Mumbai. Last year, Princeton Digital Group unveiled a major growth plan for India by expanding capacity to a total of 230 MW in the country, driving an investment programme of $1 billion. This is part of PDG's new $5-billion investment programme for AI-ready data centres in Asia. In September 2024, Princeton Digital Group entered into a strategic partnership with K Raheja Corp-backed Mindspace Business Parks REIT to develop the formers' largest data center campus in India, at Mindspace Airoli West. Navi Mumbai has emerged as a leading hub for cloud infrastructure, driven by its strategic location near submarine cable landing stations, stable power supply with zero outage, availability of renewable energy, and robust infrastructure. Mumbai has emerged as one of the Asia-Pacific (APAC) region's most competitive data centre leasing markets, driven by AWS-led colocation growth. The city's data centre ecosystem is being transformed by Amazon Web Services (AWS), which is significantly scaling through large-scale colocation leases rather than self-builds, accelerating Mumbai's emergence as a regional data centre powerhouse, said the latest Knight Frank report titled 'Global Data Centres Report'.
