Funds managed by Apollo have agreed to acquire a majority interest in Stream Data Centers (SDC) from Stream Realty Partners (SRP). Financial terms were not disclosed.
SDC builds, leases, manages and operates hyperscale data center campuses in the United States and has delivered more than 20 campuses to date. The company controls more than 4 gigawatts of long-term powered land and has a robust near-term pipeline. With the capital and strategic support of Apollo’s funds, SDC plans to scale platform-wide development to meet accelerating demand from hyperscale cloud and artificial intelligence (AI) providers across key Tier 1 and Tier 2 U.S. markets.
As part of the transaction, Apollo Funds and SRP will commit new capital to Stream’s existing data center land fund to accelerate site development for 650 megawatts of near-term power capacity across campuses in metro Chicago, Atlanta and Dallas. A newly formed subsidiary of the Apollo Funds will become investment manager
