: KKR and Singtel to invest in STT GDC

Jun 20, 2024 | Posted by Abdul-Rahman Oladimeji

KKR and Singtel are set to invest  in ST Telemedia Global Data Centres in an investment which will comprise an initial S$1.75bn (US$1.3bn) by the consortium via Redeemable Preference Shares. Once finished, Singtel and KKR may invest an additional S$1.24bn.

Bruno Lopez, president & group CEO of STT GDC, said: “With the industry experiencing unprecedented cloud and AI-led growth, this strategic partnership with KKR and Singtel will be a significant catalyst for STT GDC's next chapter of growth as a leader in the digital infrastructure industry.”

David Luboff, co-head of KKR Asia Pacific and head of Asia Pacific Infrastructure, added: “Data centers serve as an important backbone of the digital infrastructure that enables an increasingly digital economy and many critical industries globally. Our investment in STT GDC is a rare opportunity to support the growth of a leading data center platform with a terrific track record of growth and significant potential, whilst deepening our existing collaboration with Singtel."