DigitalBridge : DigitalBridge Collaborates With Saudi Sovereign Wealth Fund to Expand Middle East Data Centers

Digital infrastructure company DigitalBridge will expand its presence in the Middle East. DigitalBridge Group will administer a new partnership in which the Public Investment Fund (PIF) of Saudi Arabia will invest. The new partnership aims to establish data centers in Saudi Arabia and throughout the Gulf Cooperation Council (GCC). The investment amount was not disclosed. At this time, no new data center projects have been announced. DigitalBridge stated that the agreement would initially prioritize investments in the data center industry but expects to expand in the future to include towers, fiber, small cell, and Edge infrastructure.

The Public Investment Fund is Saudi Arabia's sovereign wealth fund and one of the largest funds of its kind in the globe. It has previously made investments in the Saudi towers division of Zain, made a bid to acquire the Tawal tower division of STC, and holds stock in Jio, STC, and SoftBank. It also has property and energy infrastructure investments. Through companies like Vantage and AtlasEdge, which DigitalBridge owns, it manages sites all over EMEA. However, the Middle East has not typically been covered by its platforms.