AirTrunk investment valued at AUD$3 billion
A consortium led by Macquarie Asia Infrastructure Fund 2 (MAIF2) a MIRA-managed infrastructure fund has closed on the acquisition of an 88 per cent stake in AirTrunk.
The investment values AirTrunk at more than AUD$3 billion and will accelerate its ambitious expansion across the Asia-Pacific (APAC).
AirTrunk is a hyperscale data centre platform for large cloud, content and enterprise customers across APAC. The company has been in operation since the 2017, when it launched of its first hyperscale data centre in Western Sydney.
The company has rapidly grown into a leading regional platform with facilities in Sydney (Sydney West and Sydney North), Melbourne, Singapore and Hong Kong, and a well-developed expansion plan in other markets.
AirTrunk’s five data centres, once fully developed, will be able to deliver a combined capacity of more than 450 megawatts. Its also building scalable and sustainable infrastructure in key APAC markets to enable the growth of cloud.
Rapid population growth, digital adoption and the shift to the cloud is driving accelerated demand by cloud and content providers for hyperscale data centre solutions as offered by AirTrunk.
MIRA is one of the world’s leading alternative asset managers, and its portfolio is relied upon by more than 100 million people each day. MIRA has extensive experience in developing digital infrastructure assets and assisting management to operate them, with investments in data centres, fibre assets and telecommunication tower businesses across Europe, North America, and APAC.
The consortium, led by MAIF2 includes MIRA-managed partners, acquired its stake in the business from Goldman Sachs, Sixth Street Partners (formerly TSSP) and founder, Robin Khuda. Mr Khuda will continue to hold a material stake in the business and will remain in his role as CEO under a long-term arrangement, supported by the existing executive management team.
Frank Kwok, Head of MIRA Asia-Pacific the global data centre industry has grown significantly in recent years, driven by an exponential increase in data consumption, increasing cloud applications and the shift from internal IT infrastructure to outsourced resources.
In the Asia-Pacific, this thematic is amplified by the region’s emerging economies and growing populations, leading to increasing data usage and a greater need for in-country computing workloads and storage.
“Our investors are attracted to hyperscale datacentre providers such as AirTrunk because they have attributes such as long-term revenue streams and demand resilience throughout market cycles,” he said. “This is a business with an impressive track record of execution for its customers, delivering capacity on time and on budget.”
AirTrunk will continue to deliver secure, reliable and scalable infrastructure for our customers in existing and new markets.
