ESR Group has completed the first closing of its inaugural vehicle, Data Centre Fund 1 (ESR DC Fund 1), raking in more than $1 billion in equity commitments. Commitments came from some of the world’s largest institutional investors, including sovereign wealth and pension funds.
ESR said it will raise a separate discretionary capital sleeve to co-invest into the fund, which will likely close the balance of the fund at the hard cap of $1.5 billion. In addition, the partners have an upsize option of an additional equity commitment of $1.5 billion that would bring the total investment capacity to as much as $7.5 billion.
ESR’s current data center development portfolio consists of projects located in prime locations of major clusters across Asia, including Hong Kong, Seoul, Sydney, Mumbai, Singapore, Tokyo and Osaka, Japan.
“APAC is the prime market for data center development and investment in the new era of digitalization,” said Jeffrey Shen and Stuart Gibs