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Oaktree Capital Management is actively seeking new minority investors in its data centre development arm, Pure Data Centres Group, to support ambitious expansion plans.
The investment firm aims to raise at least £800 million ($1.1 billion) by selling a 20-40% stake in Pure DC, which is currently valued between £4 billion and £5 billion.
According to reports, the formal fundraising process could commence as early as November, although discussions remain in preliminary stages, meaning the final size and timing of the deal may evolve.
Pure Data Centres Group operates over 500MW of capacity either in operation or under development across a the UK, Europe, the Middle East, and Asia. The company’s most recent development is its £1 billion joint venture with property investment firm SEGRO PLC, aimig to develop a fully fitted 56-megawatt data centre in Park Royal, London.
For Oaktree, the stake sale is indicative of the bullish outlook on the expanding data centre market. The firm is positioning Pure DC to capitalise on the increasing demand for hyperscale data infrastructure amid growing digitalisation and cloud adoption trends, both in the UK and internationally.
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