DataBank Raises $2B To Accelerate U.S. Data Center Expansion; Data center developer DataBank has completed a $2B equity raise, led by a $1.5B investment from pension fund AustralianSuper

10/15/2024

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Bisnow

• Subcategory: Capital Markets: Equity, Capital Markets: Fund, Industrial: Data Centers

• Tag: Closing | Investment | Strategy

• Additional Filters-Subcategory: Capital Markets: Equity-Investment, Capital Markets: Fund-Equity

• Company: DigitalBridge (NYSE: DBRG)

The capital raise will fund the build-out of more than 850 megawatts of data center capacity in the U.S., Dallas-based DataBank announced Tuesday. AustralianSuper, the largest pension fund in Australia, will become a significant minority owner of DataBank and will join the firm’s board of directors. Digital infrastructure megafund DigitalBridge, which is already the controlling owner of DataBank, also participated in the funding round.

The expanded footprint funded by this capital will more than triple the existing 330 MW of capacity that DataBank has deployed, according to the firm. Proceeds from the raise will be used to finance growth across the developer’s footprint, and it fully funds the completion of a trio of projects DataBank has underway in Texas, Virginia and Georgia.