Stonepeak has announced the recapitalization of its portfolio company, hyperscale data center platform Cologix.
Under the recapitalization, Stonepeak Infrastructure Fund II and co-investors will sell Cologix to Stonepeak-managed vehicles, which consist of a combination of existing Fund II investors who have chosen to reinvest in the business in partnership with a number of new third-party investors.
Fund II acquired a majority stake in Cologix in March 2017 and later partnered with Mubadala Investment Company in January 2020. According to Data Center Dynamics, as part of the recapitalization, Mubadala will exit its investment in the data center firm.
The transaction is expected to close in the first quarter of 2022.