US operator H5 Data Centers and private equity firm Novacap are partnering to develop facilities across North America.
The companies this week announced a new data center joint venture that will prioritize the development and repositioning of “strategically located facilities” to meet the demand for scalable colocation space.
No details of any new projects were released alongside the news.
“Data center projects continue to rapidly grow in scale, and we look forward to partnering with Novacap to deliver incredible data centers to support our customers’ significant IT infrastructure needs,” said Josh Simms, CEO at H5 Data Centers.
H5 operates more than 4 million sq ft (371,610 sqm) of data center space across 20 US markets.
Ted Mocarski, senior partner and head of digital infrastructure at Novacap, added: “As we reach a critical juncture for power and compute, we are excited to partner with the H5 team to bring critical capacity online in key markets across the country.”
Founded in 1981, Novacap is a Canadian private equity firm with more than C$10 billion (US$7bn) in assets under management. The joint venture with H5 Data Centers is Novacap’s fourth investment within its Digital Infrastructure platform and the company said it represents its continued commitment to building a diversified portfolio across the digital landscape.
Its other digital investments include Utah broadband firm All West Communications, IT consultant Cofomo, Communications Tower Group, and Stratus Networks.
Choate, Hall & Stewart LLP acted as legal advisor to Novacap. Hogan Lovells LLP acted as legal advisor to H5 Data Centers.