AustralianSuper leads $2B DataBank equity raise, accelerating U.S. data center expansion
Edge colocation and managed cloud service provider DataBank announced a $2.0 billion equity raise, led by a $1.5 billion investment from AustralianSuper.
AustralianSuper is Australia’s largest superannuation fund and will become a significant minority owner of DataBank.
“We are delighted to have AustralianSuper join our investors,” said Raul Martynek, DataBank’s CEO. “Along with the continued support of our existing investors, it’s a vote of confidence in our strategy and our proven ability to execute and scale the DataBank platform. This investment, and our new campuses, are a game-changer for DataBank and our customers, allowing us to bring this capacity to market now and seize the incredible opportunity ahead of us.”
The capital raise was oversubscribed, with an additional $483 million from existing investors including DigitalBridge. Proceeds will fund the build-out of over 850MW of data center capacity to meet rising demand for enterprise, cloud, and AI workloads.
DataBank operates 65+ data centers across 27+ markets, with new campuses in Dallas, Culpeper, and Atlanta.
The investment marks AustralianSuper’s first entry into the U.S. data center market.
DataBank has raised over $4.0 billion in debt and equity in the past year. The transaction is expected to close by the end of 2024, pending customary conditions.
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