DataBank, a provider of enterprise-class edge colocation, interconnection and managed services, has announced a $2 billion equity raise led by AustralianSuper, Australia’s largest superannuation fund, which committed $1.5 billion. The oversubscribed capital raise also included another $483 million in commitments from existing investors.
This investment represents AustralianSuper’s first in the U.S. data center market and the second alongside existing DataBank investor DigitalBridge. It makes AustralianSuper a significant minority owner of DataBank, and the superannuation fund will join the company’s board of directors. Milbank advised AustralianSuper in connection with the equity raise.
“Our investment in DataBank comes at an exciting time in its growth trajectory with strong tailwinds across the sector, coupled with DataBank’s ambitious expansion program and diverse business base,” said Derek Chu, head of American real assets at AustralianSuper. “DataBan