Mar 04, 2025 | Posted by Abdul-Rahman Oladimeji
Principal Asset Management, the investment management unit of Principal Financial Group, this week announced it has reached the final investor close for its Principal Data Center Growth & Income Fund. The new fund, dedicated to the development of a portfolio of hyperscale data center projects across the US, raised $3.64 billion.
"Closing this fund marks a pivotal moment for Principal Asset Management as we continue to respond to the surging demand for digital infrastructure,” said John Berg, senior managing director and global head of private real estate at Principal Asset Management.
“The success of this fundraise affirms our deep expertise in data center investments, and we are grateful for the trust and confidence of our diverse group of investors. This strategy aligns with our focus on investing in scalable sectors of the market that we expect to benefit from secular tailwinds and continues our expansion into opportunistic real estate strategies."
