SK Corp., one of the largest South Korean conglomerates, is investing $300 million for an 8.9 percent stake in Bain Capital–backed data center provider Chindata Group, reported South China Morning Post.
Founded in 2015, Chindata, which is based in Beijing, is one of the largest hyperscale data center providers focused on China, India and Southeast Asia. The company’s mainland operations include data centers in the greater Beijing area, the Yangtze River Delta and the Greater Bay Area.
“Over the past five years, Chindata Group has seen rapid growth, building a number of next-generation hyperscale data centers for tech giants in competitive and promising markets, such as China, Malaysia and India,” wrote Alex Ju, Chindata’s founder and chief executive, in a letter in July outlining the company’s sustainability efforts, according to South China Morning Post.
