ServerFarm Realty : Manulife Inve Management Buys a Majority Stake in Serverfarm

Manulife Investment Management (Manulife IM) bought the majority of Serverfarm's shares. This week, the investment firm announced that, on behalf of Manulife Infrastructure Fund II and its affiliates, it had signed an official contract to acquire a controlling stake in Serverfarm.

The terms of the investment were not disclosed, but Manulife described it as "significant" and said it would conclude in the third quarter of 2023. Manulife stated that it and Serverfarm's current investors would give capital for the data center company to continue expanding and "capitalize on appealing market opportunities" in North America, Europe as a whole and Israel.

Manulife Investment Management is the global trademark for Manulife Financial Corporation's wealth and asset management segment. Among its investments are APAC real estate investment firm Arch Capital, which unveiled a new data center platform recently, and a $150 million investment in Sabey Data Centers. Regional Group, a Canadian real estate company, purchased an office and Rogers-occupied data center facility in Ottawa, Ontario, from Manulife last year.  Blackstone Infrastructure Partners also purchased a 35% stake in Phoenix Tower International from Manulife in 2022.

Citigroup Global Markets Inc. represents Serverfarm as its primary financial advisor, TD Securities as its financial advisor, Dentons US LLP and Alston & Bird LLP as its legal counsel. Manulife Investment Management has TAP Advisors LLC as its financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as its legal counsel.