AustralianSuper Invests AU.2 Billion In US Data Center Market With DataBank Deal

AustralianSuper Invests AU$2.2 Billion In US Data Center Market With DataBank Deal

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AustralianSuper announced a AU$2.2 billion investment in the United States-based DataBank’s fundraising effort to build three new facilities across the U.S., positioning itself as a minority owner of the data center company.

With a global real assets portfolio totaling nearly AU$60 billion, this investment would mark AustralianSuper’s first entry into the U.S. data center market and make it the second investor in DataBank, after DigitalBridge.

Driven by the global surge in AI demand, DataBank has raised AU$3 billion to expand its digital footprint over 65 data centers in more than 27 markets, including three new campuses announced last year. The plans include a 120-megawatt campus in Atlanta, a 480-megawatt campus in south Dallas and a 192-megawatt campus in Culpeper, Virginia.

As the lead equity raiser, AustralianSuper, the country’s largest superannuation fund, announced it would also appoint a director to DataBank’s board, Reuters reported.

AustralianSuper’s head of mid-risk portfolios, Jason Peasley said, “We’re delighted to support DataBank, and its experienced leadership team, capitalize on the unprecedented demand for cloud and AI infrastructure. DataBank will grow and further diversify our global digital infrastructure exposure, a sector we believe will help deliver sustainable, long-term performance for more than 3.4 million members.”

The AI boom has fueled a rise in tech stocks worldwide, increasing the need for physical infrastructure to support data storage. Capitalizing on this high demand for digital infrastructure, global investors and asset managers are flocking to invest in the development of these data centers.

“Our investment in DataBank comes at an exciting time in its growth trajectory with strong tailwinds across the sector, coupled with DataBank’s ambitious expansion program and diverse business base,” said Derek Chu, head of American Real Assets at AustralianSuper.

The rapidly growing AI industry has also led to a surge in deals in data center space.

Last month, Blackstone, the alternative asset manager, announced a deal to acquire Australian data center group AirTrunk for an estimate value of over AU$24 billion, marking its largest investment in the Asia Pacific region.

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