Macquarie Capital has formed a new partnership with Prime Data Centers and made an equity investment in the wholesale data center provider.
The investment arm of Macquarie Group said it will lend its infrastructure investment and development franchise to Prime's data center delivery capabilities. The companies claim the partnership will see capital investments of more than $5 billion over the next 10 years.
The companies didn’t share what stake Macquarie has taken in Prime, but said the investment will help deliver 400MW of capacity currently in Prime’s pipeline.
“Macquarie Capital is an excellent fit for us, not only because of the strategic nature that is truly unique and a potential paradigm shift in solving for the delivery of sustainable mission-critical infrastructure on demand at whatever capacity, but also because of their long-term investment horizon to really scale and leverage our mutual assets and people,” said Nicholas Laag, CEO of Prime.
“We are planning for 10 and 20 years and not only one, three, or five years, which we believe will align well with customers.”
Mark Bradshaw, head of infrastructure investing and development for Europe & Americas at Macquarie Capital, added: “With this partnership and investment, Macquarie Capital can leverage its green energy platform, financial capabilities and its global digital infrastructure experience to help Prime Data Centers accelerate the development of a promising project pipeline of 400MW and drive long-term growth."
Prime Data Centers has three existing campuses in Sacramento, Santa Clara, and Hayward, California.