Global Infrastructure Partners (GIP) via its credit fund, GIP Capital Solutions Fund II, has invested in a term loan facility of up to $450 million in Vantage Data Centers, a hyperscale data provider.
GIP, which manages $100 billion in alternative investment assets, structured and acted as the lead investor on the transaction, which was supported by a consortium of investors led by DigitalBridge, which has amassed a $70 billion-plus portfolio of digital infrastructure assets over the past 25 years. Pension fund AustralianSuper recently took a significant minority stake in Vantage Data Centers Europe, Middle East and Africa (Vantage EMEA), a fast-growing hyperscale data center platform.
“We are pleased to have entered into this transaction with Vantage and its sponsors,” said Jon Plavnick, managing director at GIP Credit. “This financing illustrates our strong and productive partnership with Vantage, a leading firm within the global hyperscale data center sphere. It is also consistent with GIP CAPS’ strategy of seeking to invest in high quality assets with attractive cash flow characteristics.”
Plavnick joined GIP in 2022 and focuses on global infrastructure private credit opportunities. Prior to joining GIP he was a managing director at Oaktree Capital Management, where he was responsible for high yield and distressed private credit opportunities. At Oaktree, he managed private deal sourcing, structuring, and underwriting and led a number of successful restructuring processes.
Officials said proceeds from the loan facility will be used, along with incremental equity, to facilitate the continued buildout of its high-quality data center portfolio as Vantage continues its expansion across key North American markets. The investment represents the eighth investment made by GIP CAPS II. The GIP CAPS strategy provides customized capital solutions for infrastructure projects and companies in GIP’s core sectors of power, renewables, energy transition, digital, midstream energy, transportation and water/waste, while leveraging GIP’s significant operating expertise