On October 15, DataBank announced a nearly $2.0 billion equity raise led by AustralianSuper, who will become a significant minority owner of DataBank and join the company’s board of directors. AustralianSuper committed $1.5 billion, and another $483 million came from existing investors. The investment marks AustralianSuper’s first foray into the United States data center market.
DataBank reports that the funding will be used to finance growth across its entire footprint. Expansions at its three newest data center campuses and in other markets will add more than 850 MW of power to the company’s portfolio.
DataBank CEO Raul Martynek said the financial support is a vote of confidence in the company’s strategy.
“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,” said Martynek in a press release.
DataBank has raised more than $4 billion in debt and equity in the past 12 months, including a green bond earlier this year. The new transaction is expected to close by the end of 2024.
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Hayden Beeson
Hayden Beeson is a writer and editor with over seven years of experience in a variety of industries. Prior to joining Lightwave and Broadband Technology Report, he was the associate editor of Architectural SSL and LEDs Magazine.