Investment will grow and further diversify AustralianSuper’s global digital infrastructure exposure and will fund the build-out of more than 850MW of data center capacity across DataBank’s portfolio to meet accelerated demand for enterprise, cloud, and A.I. workloads.
DataBank, a leading provider of enterprise-class edge colocation, interconnection, and managed services, today announced a $2.0 billion equity raise led by AustralianSuper, Australia’s largest superannuation fund, which committed $1.5 billion. Upon closing of the transaction, AustralianSuper will become a significant minority owner of DataBank and will join the company’s board of directors.
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The capital raise was oversubscribed and, in addition to the $1.5 billion from AustralianSuper, included another $483 million in commitments from existing investors. The investment in DataBank would be AustralianSuper’s first in the U.S. data center market and the second alongside existing DataBank investor DigitalBridge. AustralianSuper’s global real assets portfolio now totals nearly $40 billion, and includes digital infrastructure assets across Australia, EMEA and South America.
Proceeds from the raise will be used to finance growth across DataBank’s industry-leading footprint of 65+ data centers in 27+ markets, including the 3 new campuses it has announced in the past year: a 480MW campus in south Dallas, a 192MW campus in Culpeper, VA, and a 120MW campus in Atlanta. Those sites, as well as expansions in other markets, will add more than 850MW of power to DataBank’s portfolio, more than tripling its existing 330MW of power deployed, and enabling it to meet unprecedented demand for A.I.,
enterprise and large technology workloads.
“We are delighted to have AustralianSuper join our investors,” said Raul Martynek, DataBank’s CEO. “Along with the continued support of our existing investors, it’s a vote of confidence in our strategy and our proven ability to execute and scale the DataBank platform. This investment, and our new campuses, are a game-changer for DataBank and our customers, allowing us to bring this capacity to market now and seize the incredible opportunity ahead of us.”
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“Our investment in DataBank comes at an exciting time in its growth trajectory with strong tailwinds across the sector, coupled with DataBank’s ambitious expansion program and diverse business base,” said Derek Chu, Head of American Real Assets at AustralianSuper. “We’re delighted to be helping DataBank, and its experienced leadership team, capitalize on the unprecedented demand for cloud and AI infrastructure. DataBank will grow and further diversify our global digital infrastructure exposure, a sector we believe will help deliver sustainable, long-term performance for more than 3.4 million members.”
“We’re thrilled to welcome AustralianSuper as a key investor in DataBank,” said Jon Mauck, Senior Managing Director at DigitalBridge. “DataBank’s proven track record, expansion capacity, and strong leadership, position it to take full advantage of the tremendous market opportunities in the U.S. This investment highlights the resilience and long-term value of digital infrastructure as an asset class.”
Together with this transaction, DataBank has raised more than $4.0 billion in debt and equity over the past 12 months, including a $725 million credit facility announced in April 2024, a $456 million securitization completed in February 2024, a $345 million construction loan signed in November 2023, and a $188 million equity investment completed in November 2023.
BofA Securities and Citizens Capital Markets Inc. acted as financial advisors for DataBank. Citi acted as financial advisor for AustralianSuper. Simpson, Thatcher & Bartlett LLP acted as legal counsel to DataBank and Milbank LLP acted as legal counsel to AustralianSuper.
The transaction is expected to close by the end of 2024 subject to customary closing conditions.
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