Hyperscale and Edge data center operator Cologix has secured $1.5 billion in debt and equity financing to fund its growth plans.

The company, which operates sites across North America, has set up a $1 billion multi-asset development debt facility, and raised $500 million from new and existing investors.

Stonepeak-owned Cologix said the debt facility will give it “flexibility to add new sites over time, offering quick access to capital to fund development projects as needed.”

The company added that “both the debt and equity raises received strong investor demand and were oversubscribed, underscoring their confidence in Cologix’s proven business model, growth potential, and ability to execute on its strategic initiatives."

Scott Schneider, CFO of Cologix, said the fundraising was a “significant milestone” for the company. He said: "The combination of debt and equity financing provides us with the flexibility and capital to keep pace with the growing demand for digital infrastructure, particularly as AI, hybrid cloud and interconnection requirements expand. This financing ensures we can continue to scale and deliver on our customers’ needs in a dynamic market."

According to its website, Denver, Colorado-headquartered Cologix now operates more than 40 data centers across the US and Canada, spanning colo, Edge, and hyperscale facilities.

It has been expanding its portfolio through new builds and acquisitions, and earlier this year it completed the purchase of two data centers in Des Moines, Iowa. It has also completed work on a new data center in Colombus, Ohio, which offers 50MW capacity across three data halls.

It said it will use the new funding to “support the ongoing build-out of large-scale campuses in its core markets, including Ashburn, Columbus, and Montréal, as well as begin new builds on recently acquired land in Columbus, Des Moines, and Vancouver, which upon full build-out can support over 650MW of sellable capacity.”