Arjun Infrastructure Partners is set to take a minority stake in data center operator Data4, it has been reported.
Talks between Arjun and Brookfield, Data4’s current owner, are said to be at an advanced stage, according to Bloomberg.
The deal between the two investment funds would see Arjun take ownership of part of Data4’s mature asset portfolio, which is made up of fully-built data centers with stable tenancy agreements in place. It would value this portfolio at €3.7 billion ($3.9bn).
As it is not yet finalized, the deal may yet be delayed or canceled, the Bloomberg report said, citing sources familiar with the discussions. Both companies declined to comment on the report.
Reports that Brookfield was looking to sell a stake in Data4 first emerged last August.
Established in 2006 by Colony Capital (now DigitalBridge) and owned by Brookfield since April 2023, Data4 currently operates around 30 data centers in France, Italy, Spain, Poland, Greece, and Germany.
Brookfield acquired Data4 from Axa IM – the deal was said to be valued at around $3.8bn. Under Brookfield’s ownership, the company’s contracted assets have grown from 200MW to some 700MW.
This will increase further in the coming years, with Brookfield having pledged to invest €15bn ($15.5bn) in Data4 to build out its network of data centers in France.
The company has existing plans to grow its data center footprint in France from 375MW to 500MW, and will now aim to increase this by an additional 1GW over the next five years. This is likely to include new data centers in "several regions of France."
Arjun, which is based in Paris and London, manages assets worth some €6 billion ($6.26bn).
