Apollo funds complete Stream Data Centers acquisition

Apollo Global Management (NYSE: APO) announced that Apollo-managed funds have completed their acquisition of a majority interest in Stream Data Centers, a data center developer and operator focused on hyperscale facilities across the United States.

Principal Asset Management acquired a minority interest in Stream Data Centers through a Principal-managed fund as part of the transaction. The company's management team retained a minority stake and will continue leading operations.

Stream Data Centers operates a pipeline of more than 4 gigawatts and has delivered over 20 campuses for hyperscale and enterprise customers, primarily in major data center markets. The company maintains a land fund with power allocations scheduled to come online over the next 12-24 months.

"SDC is an essential part of Apollo's strategy to scale our presence in digital infrastructure," said Joseph Jackson and Trevor Mills, partners at Apollo. "We are excited to support the company's continued expansion as a scaled provider of next-generation capacity for hyperscale and AI customers across key U.S. markets."

Apollo estimates global data center infrastructure will require several trillion dollars of investment over the next decade. Since 2022, Apollo-managed funds and affiliates have deployed over $40 billion into infrastructure including renewable energy, digital platforms and compute capacity.

Stream Data Centers operates facilities in Dallas, Phoenix, Chicago, San Antonio, Atlanta and other markets. The company reports that over 90% of its inventory is leased to Fortune 100 customers.

You May Also Be Interested In