Legal & General is said to be preparing to purchase a 75,000-square-foot data center in Newport, South Wales, for £200 million ($246 million), according to Data Economy.
The current owner of the Next Generation Data (NGD) facility is InfraVia Capital Partners, an independent investment firm. Infravia acquired the property in 2016 for £100 million ($122 million).
Infravia launched a growth fund to invest in technology and digital infrastructure earlier this month, targeting €300 million ($327 million) in capital commitments.
The Telegraph reported the deal is part of L&G’s push into the digital infrastructure sector, following the firm’s recent acquisition of a 50 percent stake in a $282 million data center in Harlow, England.
“We believe that data centers are an integral part of a city’s digital transformation, enabling connections to a broader digital infrastructure and offering synergies across our wider Future Cities investment strategy,” Kerrigan Procter, CEO of L&G said when announcing the earlier buy. “With a focus on creating thriving cities, Legal & General looks to make investments that are focused on creating sustainable communities with good employment opportunities, high-quality and varied housing in a digitally connected and clean environment.”
