Stonepeak Invests $1.3B in PDG
Princeton Digital Group (PDG), a data center operator in the Asia Pacific region, has signed a definitive agreement with Stonepeak, an alternative investment firm specializing in infrastructure and real assets. The firm will make a preferred equity investment of USD $1.3 billion in PDG to support its continued expansion across Asia Pacific.
Stonepeak’s long-term capital will support the company’s next phase of growth, including both greenfield development and M&A, across established and emerging Asia Pacific markets. Warburg Pincus will continue to be PDG’s largest shareholder.
“This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation,” said Rangu Salgame, chairman, CEO, and co-founder of PDG. “Stonepeak shares our deep conviction in the unprecedented growth of AI and cloud across Asia Pacific. With this partnership, PDG is uniquely positioned to scale with speed, continue being the trusted provider to the world’s most demanding hyperscalers, and further consolidate its position as a market leader in the region.”
“PDG has established itself as one of the clear leaders among digital infrastructure platforms in the Asia Pacific region. The company’s track record of execution, top-tier management team, and significant power bank in critical hub markets in APAC positions it well to serve the continued demand from hyperscalers and AI-driven platforms in the region,” said Andrew Thomas, senior managing director at Stonepeak. “This investment in a quality fit for our Asia infrastructure strategy, and we look forward to partnering with PDG’s management team, Warburg Pincus and existing shareholders to propel the company’s next phase of growth.”
PDG is being advised by Goldman Sachs, J.P. Morgan, and Latham & Watkins as legal counsel. Barclays is serving as financial advisor and Sidley Austin LLP is serving as legal counsel to Stonepeak.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with nearly a decade of experience and a passion for telling stories and reporting news. She is originally from Queens, New York, but now resides in Denver, Colorado.
