ST Telemedia Global Data Centres secures $1.75b investment from KKR-led consortium and Singtel

This marks the largest digital infrastructure investment in Southeast Asia for 2024.

ST Telemedia Global Data Centres (STT GDC) has secured a $1.75b (US$1.3b) investment from a consortium led by KKR and Singtel. This is Southeast Asia's largest digital infrastructure investment of 2024.

The initial investment of $1.75b will be made through redeemable preference shares with detachable warrants. If these warrants are fully exercised, the consortium’s investment will increase by an additional $1.24b (US$920m).

The funds will be used to bolster STT GDC's market position and support its international growth through both organic and inorganic strategies. Post-transaction, ST Telemedia will remain the majority shareholder of STT GDC.

STT GDC, headquartered in Singapore, operates more than 95 data centres across 11 regions, serving over 20 major business markets. The company offers high-quality colocation, connectivity, and 24/7 support services, with a combined IT load capacity exceeding 1.7GW.

KKR's investment will come from its Asia Pacific Infrastructure Investors II Fund, following its commitment to mobilise infrastructure in the Indo-Pacific region. Previous investments by KKR in Southeast Asia’s digital infrastructure include Nxera, Pinnacle Towers, and OMS Group.

Singtel continues to expand its footprint in digital infrastructure, having sold a 20% stake in its regional data centre arm Nxera to KKR in September 2023.