Lendlease establishes $1b investment fund for APAC data centers

Australian-listed property and infrastructure giant Lendlease will enter into a partnership with an institutional investor to invest up to $1 billion in data centers across the Asia Pacific region.

Lendlease said the partnership will be 20 percent funded by the company with the remaining 80 percent coming from a large institutional investor. While the investor was not identified, the Australian Financial Review reports that the institutional investor is suspected to be from Singapore.

The initial equity commitment by both parties will together be $500 million, which combined with leverage will allow the partnership to invest $1 billion. Lendlease is appointed as development, construction, property and investment manager for the partnership.

The partnership will target both completed data center assets as well as new development opportu