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Once fully developed, these initial six facilities are expected to provide around 155 megawatts of power capacity.
GIC has entered into two separate partnerships to acquire a railroad firm in the US as well as develop six hyperscale data centres in Europe.
It partnered Canada-based Brookfield Infrastructure to acquire US-based railroad firm Genesee & Wyoming (G&W) for US$8.4 billion.
The transaction will see G&W become a privately held company.
“G&W owns a portfolio of 120 short line railroads, predominantly in North America, with operations in Europe and Australia. Through its subsidiaries worldwide, the business provides transportation infrastructure services over more than 26,000 kilometres of track, providing access to its well-diversified customer base,” said GIC in a release.
Singapore’s sovereign wealth fund also entered into an 80:20 joint venture with data centre firm Equinix to acquire and develop six hyperscale data centres in Europe for over US$1 billion.
The venture plans to buy two operational data centres in Paris and London, which together deliver around 31MW of critical power to customers. It also intends to further develop four data centres in Frankfurt (two sites), Amsterdam and London.
Once fully developed, these initial six facilities are expected to provide around 155 megawatts of power capacity.
The data centres will be developed, operated and managed by Equinix.
“As a long-term value investor, we are confident that the strong growth in data consumption and public cloud data storage will continue to drive secular demand for hyperscale data centres,” said Lee Kok Sun, chief investment officer at GIC Real Estate.
Subject to regulatory approval, the transaction is expected to close in the third quarter of 2019.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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