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Abu Dhabi sovereign wealth fund Mubadala is investing in global hyperscale data center developer Yondr Group, according to Mubadala statement. Mubadala made the investment “alongside Apollo Management via an existing investment from Apollo-managed funds,” suggesting it may have acquired a piece of a stake that the US-based alternative asset manager picked up in June 2023. Mubadala didn’t put a value on the investment in the London-based firm, nor did it say how the transaction was structured.
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Mubadala is backing Yondr as global demand for cloud services surges on the back of advancements in artificial intelligence, 5G technology and the internet of things, according to the sovereign fund. It sees the global market for data centers growing at a compound annual growth rate of 11% through 2032.
More on Yondr: Established in 2019, Yondr is a global developer and operator of hyperscale data centers, providing scalable infrastructure for major tech companies. The company has 878 MW in contracted and reserved capacity for the data centers, with 58 MW currently operational.
Mubadala has been steadily expanding its digital infrastructure portfolio: In 2023, Mubadala invested in Aligned Data Centers, a US-based company specializing in Scale Data Centers and build-to-suit solutions for scaled enterprises. The Abu Dhabi wealth fund backed in 2022 pan-Asian data center provider Princeton Digital Group. It has also invested in global fiber network providers like the UK’s CityFibre and Northern Europe’s GlobalConnect.
