CHICAGO–(BUSINESS WIRE)–May 24, 2022–
IPI Partners, LLC (“IPI”), a global investment firm specializing in investing in critical digital infrastructure assets, announced today that it has agreed to acquire a majority stake in Safe Host SA (“Safe Host”), a Switzerland-based data company that owns and operates the center, founders, management and funds managed by StepStone Real Estate (“SRE”), the real estate arm of the global investment firm in private markets StepStone Group Inc. (Nasdaq: STEP). Financial terms of the transaction were not disclosed.
Founded in 2000, Safe Host is a leader in the Swiss data center market with an attractive portfolio of top-tier assets and relationships with top-tier hyperscale and enterprise customers. Safe Host operates four data centers in Geneva, Zurich and Avenches, Switzerland, and has additional land holdings in key European markets that offer significant growth potential.
Following the closing of the acquisition, Safe Host will operate under the STACK Infrastructure brand, which is sponsored by IPI and is one of the largest digital infrastructure platforms in the world. Combined with STACK’s existing data center portfolio in Italy and the Nordics, the acquisition will provide additional scale and geographic diversity, bolstering STACK’s growing presence in Europe. The addition of Safe Host will also strengthen STACK’s ability to meet the unique needs of large-scale and enterprise customers by combining deep local and regional expertise with global reach and scale.
John Eland, CEO of STACK EMEA, said, “We are delighted to add the Safe Host Wallet to the STACK banner. Switzerland’s central location, political and economic stability, high data protection standards and renewable energy sources are very attractive to our customer base, and we believe the market is well positioned for further growth at large. scale and businesses in the future.
Matt A’Hearn, Partner at IPI, added, “Europe remains a high priority for IPI’s hyperscale customers, and Safe Host’s existing relationships and exploitable expansion opportunities will accelerate our momentum in the region. IPI looks forward to further leveraging the strength of a unified STACK, expanded more broadly with this acquisition, to better serve customers and further grow IPI’s hyperscale data center portfolio.
Gibson, Dunn & Crutcher LLP acted as legal counsel to IPI Partners. Latham & Watkins LLP acted as legal advisor and RBC Capital Markets acted as financial advisor to StepStone Real Estate.
About IPI Partners
IPI Partners specializes in acquiring, developing, leasing and operating critical digital infrastructure assets to meet the needs of large, high-quality technology companies globally. Over the past five years, IPI has built one of the largest portfolios of private hyperscale and enterprise data centers in the world with facilities in the United States of America (eight of the top 10 markets), Canada, in Norway, Sweden, Denmark and Italy. , and Switzerland, with the ability to support more than 1.4 gigawatts of computing capacity.
About the STACK framework
STACK provides digital infrastructure to scale the world’s most innovative companies. With a customer-focused approach, STACK offers a full suite of campus, bespoke, colocation and motorized hull solutions across the Americas, EMEA and APAC regions. With robust and flexible expansion capability in major Availability Zones, STACK delivers the scale and geographic reach that fast-growing enterprises and hyperscales need. The world runs on data. And data works on STACK.
About StepStone Group and StepStone Real Estate
StepStone Group Inc. (Nasdaq: STEP) is a global private markets investment firm focused on providing personalized investment solutions and advisory and data services to its clients. As of December 31, 2021, StepStone was overseeing approximately $548 billion in private market allocations ($151 billion within the SRE), including $127 billion in assets under management. StepStone’s clients include some of the largest public and private defined benefit and defined contribution pension funds, sovereign wealth funds and insurance companies, as well as major endowments, foundations, family offices and wealth clients. private, which include wealthy clients and mass affluent individuals. StepStone partners with its clients to develop and build private market portfolios designed to meet their specific objectives in the real estate, private equity, infrastructure and private debt asset classes.
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Alyssa Lorenzo / Camilla Scassellati Sforzolini / Claire Keyte
Sard Verbinnen & Co.
KEYWORD: ILLINOIS EUROPE SWITZERLAND UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: DATA MANAGEMENT SECURITY TECHNOLOGY RESIDENTIAL BUILDING AND REAL ESTATE COMMERCIAL BUILDING AND REAL ESTATE CONSTRUCTION AND PROPERTY
SOURCE: IPI Partners, LLC
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PUBLISHED: 05/24/2022 02:00 AM/DISC: 05/24/2022 02:02 AM