DigitalBridge edges up as co teams with Silver Lake in data center investment

Digitalbridge

09/01/2024 16:45

** DigitalBridge Group's  DBRG.N  shares tick up on Tues as
co combines with private equity firm Silver Lake in new
data-center investment amid artificial intelligence (AI) boom
    ** Vantage Data Centers announced $6.4 bln equity infusion
led by the two investment firms
    ** Vantage, which has 32 campuses on five continents, says
capital supports development investment of over $30 bln to
deliver more than 3 gigawatts of additional capacity
    ** Silver Lake launched Vantage in 2010 and then sold it to
DigitalBridge-managed vehicle in 2017
    ** “We are excited about supporting the next chapter of
Vantage’s growth in partnership with Silver Lake,” said
DigitalBridge's Jon Mauck, leader of the firm's data center
investment strategy
    ** "Vantage is a critical partner to the leading cloud and
technology platforms globally and is well positioned to continue
to support accelerating adoption of cloud- and AI-based
technologies,” Mauck added
    ** Data center demand remains strong as more businesses move
to the cloud. Last month, Blackstone  BX.N  and Digital Realty
 DLR.N  said they will create joint venture to spend $7 bln to
develop 10 data centers across four campuses in Frankfurt, Paris
and northern Virginia
    ** DBRG shares last up 0.3% at $17.94 on Tues. Stock rose
60% in 2023
    ** DLR's stock off 0.4% at $133.25 on the session. But
shares rose ~34% last year, well outpacing S&P 500 Real Estate
index's  .SPLRCR  8.3% advance in 2023

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))