CoreSite, a hybrid IT solutions provider and subsidiary of American Tower Corporation and Stonepeak, announced that Stonepeak, on behalf of certain affiliated investment vehicles, invested an additional $570 million. Together with its initial $2.5 billion investment in August 2022, on a fully converted basis and based on the currently outstanding equity, it represents an approximately 36 percent ownership interest in American Tower’s U.S. data center business.
The conversion is expected to occur four years from the date of the initial closing in August 2022.
The upsize transaction w