Brazilian investment firm Alianza Investimentos Imobiliários has formed a data center joint venture with Singaporean wealth fund GIC.
The companies this week announced plans to jointly invest R$2 billion (US$338m) in data centers in Brazil.
According to Metro Quadrado, GIC will be the majority shareholder in the JV.
The funds will reportedly be invested in sale and leaseback and built-to-suit contracts. Just over half of the money has already been assigned to deals in advanced negotiations for facilities totaling 40MW, though details weren’t shared.
“These are deals that we should close in 2025,” Fabio Carvalho, one of Alianza’s partners, told Metro Quadrado.
“We are entering into ready assets, in sale and leaseback operations for expansions, in long-term contracts with the main hyperscale data center operators in the country,” added Ricardo Madeira, another partner at Alianza.
Founded in 2011 and headquartered in São Paulo, Alianza is an asset management firm that focuses exclusively on real estate investments and is managed by BTG Pactual. The company has R$2.9 billion ($490.3m) in assets under management totaling some 745,000 sqm (8,019,113 sq ft), including offices, last mile logistics, and data center.
Alianza last year acquired a Scala facility in Porto Alegre in a sale-leaseback deal via its Alianza Digital Realty FII fund. The fund previously acquired a data center in Tamboré owned by SKY Brasil, a television company owned by Vrio, in another sale-leaseback deal.
GIC is a major investor in real estate. Its data center investment has largely been concentrated on joint ventures with Equinix for the colo firm's hyperscale xScale developments, but it has made several other investments, including Vantage, GDS, Polymer Connected (later known as SpaceDC), EdgeCore, and Czech digital infrastructure firm CETIN Group.
