Goldman Sachs, TPG commit A$400m to Australian data centers
Goldman Sachs and TPG have committed A$400 million ($305 million) to Singapore-based AirTrunk to build data centers in Australia.
The investment will be used for the construction of flagship data center projects in Huntingwood, a suburb of Sydney, and Derrimut, a suburb of Melbourne. The facilities are expected to be operational in third quarter 2017.
“Australia has the second-largest cloud computing market in Asia. The advantage that Australia has over other Asian countries is the maturity of the data center market,” said Robin Khu, founder and CFO of AirTrunk, in a statement.
AirTrunk, which launched in 2014, develops and operates hyper-scale data centers and aims to lead the Asia Pacific market.
AirTrunk recently predicted data center capacity in Asia Pacific market will reach $12.5 billion by 2019 as demand for cloud computing continues to surge. It noted many businesses that once ran their technology inhouse are shifting processing power offsite