Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, announced the successful closing of its previously announced equity recapitalization of Cologix, the largest private interconnection and hyperscale edge platform in North America.
At $3.0 billion in equity value, the transaction represents the largest single asset continuation vehicle raised in digital infrastructure to date. Cologix also completed a $1.65 billion asset-backed securitization earlier this year to support continued growth.
The recapitalization was effectuated as a sale of Cologix by Stonepeak Infrastructure Fund II LP and co-investors (Fund II) to Stonepeak-managed vehicles comprising a combination of existing Fund II investors who have chosen to reinvest in the business in partnership with a number of new third-party investors.
Cologix is North America’s leading network-neutral interconnection and hyperscale edge data center company with a carrier-dense ecosystem of more than 600 networks, 300+ cloud providers and 29 onramps across its platform. The company provides colocation and connectivity solutions to more than 1,600 customers through its operations that span 40+ digital edge and Scalelogix hyperscale edge data centers in 11 North American markets. Cologix maintains a strong focus on environmental, social and governance efforts across its business and to date has undertaken various sustainability initiatives, including the use of hydropower, optimizing water usage and installing the most efficient uninterruptible power supplies in the industry.
Cyrus Gentry, Managing Director at Stonepeak
We are excited to extend and deepen our partnership with the Cologix team through this transaction and look forward to supporting Bill and team as they continue to build out Cologix’s leading North American interconnection and hyperscale edge platform in the years ahead.
Cologix Chairman and CEO Bill Fathers
With this transaction, we are accelerating our investments to match the growing demand from cloud services and network providers as well as digital enterprises. We will build and acquire ScalelogixSM hyperscale edge data centers in current and new markets to complement and expand our network dense digital edge business.
