Brookfield Asset Management is reportedly looking to sell a minority stake in Latin American data center operator Ascenty.
The investment firm is currently searching for an investment bank to advise it on a sale, according to a report by Reuters that cites people familiar with the company’s thinking.
Ascenty is currently owned through a joint venture that was set up by Brookfield and Digital Realty in 2018 when they purchased the firm for $1.8 billion. Both companies hold a 49 percent stake, with Ascenty founder and CEO Chris Torto owning the remaining two percent.
It is thought that Canada-based Brookfield is seeking a local bank to advise it on a sale. The price it is seeking for a slice of Ascenty is unknown, but it apparently hopes to do a deal by the end of 2025. DCD has approached Brookfield, Ascenty, and Digital Realty for comment on the report.
Founded by Torto in 2010, Ascenty has 34 data centers in operation and/or under construction, mostly in Brazil, but also in locations including Chile, Mexico, and Colombia.
In 2023 it secured an additional $1 billion in financing to expand across Latin America.
Last December, it submitted an environmental impact review for a new data center in Chile.
The Data Hall Quilicura project plans to convert industrial warehouses into data centers in Quilicura, near Santiago, Chile.
According to the application, the project will span a land area of 54,998 sqm (591,993 sq ft), with 24,757 sqm (266,482 sq ft) allocated for buildings. Carrying a price tag of $140 million, it is hoped construction on the site will begin in September.