Jan 03, 2025 | Posted by Abdul-Rahman Oladimeji
Global Switch recently announced that the sale of its Sydney data center business to HMC Capital had closed, and has officially confirmed previous reports it was seeking external investment for its London campus.
“As part of its financing strategy to drive future growth, Global Switch has also recently appointed UBS as financial adviser to explore co-investment opportunities for its super-prime London data center portfolio,” the company said.
“As part of its financing strategy to drive future growth, Global Switch has also recently appointed UBS as financial adviser to explore co-investment opportunities for its super-prime London data center portfolio,” the company said.
“Current market conditions, where demand for AI and HPC data centers continues to outstrip supply, present an ideal opportunity to recycle capital and fund further growth,” Global Switch added. “The formal process of exploring co-investment in the UK has commenced in London and the company will provide a further update in due course.”
Despite shedding its footprint in Australia, Global Switch said it is seeking further opportunities to grow. “The net proceeds of this transaction have further strengthened the company’s balance sheet and provide substantial further capital for Global Switch to capitalize on the significant growth opportunities it has identified,” the company said. “The company continues to see attractive opportunities predominantly in its existing core Tier 1 markets of Europe and Asia-Pacific and also in selective new, high-growth Asian markets.”
