ESR Group Limited, one of APAC’s largest real asset managers powered by the New Economy, has announced the first close of over US$1 billion in equity commitments for its inaugural vehicle, Data Centre Fund 1 (‘ESR DC Fund 1,’ or the ‘Fund’), dedicated to the development of its growing data centre business.
ESR DC Fund 1 brings together some of the world’s largest institutional investors, including sovereign wealth and pension funds. ESR will raise a separate discretionary capital sleeve to co-invest into the fund which will likely close the balance of the fund at the hard cap of US$1.5 billion. Additionally, the partners have an upsize option of an additional equity commitment of US$1.5 billion, which would bring the total investment capacity to as much as US$7.5 billion over time.
ESR’s current data centre development portfolio comprises data centre projects primely located in major data centre clusters across Asia, including Hong Kong, Osaka, Tokyo, Seoul, Sydney, Mumbai and Singapore, delivering a 300MW IT load. Among these projects is a key asset the group acquired in Osaka that will be developed into a multi-phase data centre campus with a development potential of up to 95MW IT load to serve both hyperscalers and colocation operators in the rapidly growing Osaka market.
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