CVC DIF and Northleaf have divested their joint venture (JV) US data center portfolio, Vault Digital Infrastructure, to Igneo Infrastructure Partners.

Vault is a portfolio of seven operational colocation and enterprise data center assets across the US, with 75MW of critical capacity.

No financial terms for the deal were disclosed.

CVC DIF and Northleaf each held a 49 percent stake in Vault, with the remaining two percent held by Landmark Dividend. The JV was created in 2018 with the aim of investing in operational data centers. CVC said the portfolio is “mission critical” to its established tenant base.

Igneo Infrastructure Partners is a global infrastructure manager. It is an affiliate investment team of First Sentier Group, a global asset management organization with AU$218 billion (US$151 billion) in assets under management.

“We have successfully scaled the portfolio, which now represents an attractive platform for future growth with these strategically located assets and a diversified, blue-chip customer base,” said Andrew Freeman, partner and head of Divestments at CVC DIF. “This transaction is a strong example of CVC DIF’s ability to drive value creation during its investment ownership. It also highlights our ability to opportunistically exit an investment and continues our strong track record for our investors.”

Chris Rigobon, managing director and head of Digital Infrastructure at Northleaf, added: “We have driven significant value creation by growing Vault from a single facility into a scaled platform through a thoughtful consolidation strategy focused on individual data centers. Creating a platform diversified by customer, contracts, and region is a prime example of Northleaf’s North American-focused, middle-market infrastructure strategy.”

Karlton Holston, EVP, data centers at Landmark, said: "We are pleased with the successful outcome of this transaction, resulting from collaboration over many years with our partners at Vault. This transaction exemplifies Landmark’s strong track record, which has enabled us to build a leading position in the digital infrastructure sector, with over 70 data center assets under management for our investors and clients."

Last month, CVC DIF announced that it was in talks to acquire an 88 percent stake in digital infrastructure operator Celeste.