Principal Asset Management has held a final close for its Principal Data Center Growth & Income Fund with total equity fundraising of $3.64 billion, according to a Feb. 28 announcement from the firm.
The fund, an opportunistic, closed-end fund, invests in hyperscale data centers throughout the United States. With an initial fundraising goal of $3 billion, it exceeded its target by $640 million. It’s the third data center vehicle managed by Principal.
According to the firm, the fund is expected to capitalize more than $8 billion of development assets in the United States in partnership with Stream Data Centers, a digital infrastructure provider.
This final close follows recent investments by the Teachers’ Retirement System of the State of Illinois and the
