Canadian teachers’ pension fund bets on Asia-Pacific data centre growth in 5G era with big investment in Singapore’s Princeton Digital Group
- The Ontario Teachers’ Pension Plan Board led a US$360 million investment in Singapore-based data centre company Princeton Digital Group
- Southeast Asia’s data centre sector will see a compounded annual growth rate of 13 per cent through 2024, according to Cushman & Wakefield
The fund, which had C$204.7 billion (US$149.8 billion) in assets as of June 30, has more than C$15 billion invested in the Asia-Pacific region across equities, private equity and infrastructure.
Last month, the fund opened an office in Singapore to further enhance its expansion in Asia-Pacific.
Warburg Pincus, already the largest institutional investor in PDG, is also participating in the latest round of fundraising. Details have not been unveiled.
PDG is an investor, operator, and developer of data centres, with a portfolio of 18 such facilities across four countries – China, Singapore, Indonesia, and India – focusing on internet and cloud companies as clients.
“We see a tremendous opportunity for PDG to continue to grow across the largest and fastest growing markets in Asia,” said Ellen Ng, managing director and head of China real state, Warburg Pincus.
Southeast Asia’s data centre sector will see a compounded annual growth rate of 13 per cent through 2024, according to Cushman & Wakefield.
Ng sees data centres as an attractive asset class in the Asia-Pacific region, which has 2 billion internet users – seven times that of US.