Ontario Teachers’ leads $360m investment to Asian data center company

Singapore-based Princeton Digital Group (PDG) has entered into definitive agreement for a new $360 million equity investment led by Ontario Teachers’ Pension Plan Board. Warburg Pincus, which has been the largest institutional investor of PDG, is also participating in this new round of fundraising.

“We see data centers as a compelling investment opportunity given their essential role in the rapid digitalization and growth of data occurring in Asia and around the world. We have been impressed by PDG’s high-quality management team, unique strategy and track record of success, and look forward to leveraging our experience to help the company continue to scale across Asia,” said Ben Chan, regional managing director for Asia Pacific at Ontario Teachers.

PDG is an investor, operator, and developer of data centers with presence in the key digital economies of Asia. Since its founding three years ago, PDG has built a portfolio of