Search
Close this search box.

We are creating some awesome events for you. Kindly bear with us.

Singapore GIC leads investment in data centre platform in North America

Singapore GIC leads investment in data centre platform in North America

On Feb 14, Singapore sovereign wealth fund GIC announced that it has formed an investment vehicle called EdgeCore Internet Real Estate with two other companies to build and operate data centres across North America.

According to its website, EdgeCore is a US-based provider of highly scalable, cloud-connected data centre solutions. It is committed to enabling the growth and performance of its customers across its highly scalable platform of state-of-the-art data centres.

EdgeCore Internet Real Estate is formed to develop, acquire, and operate data centres across North America. The investment vehicle is set up by Singapore sovereign wealth fund GIC, Denver-based investment firm Mount Elbert Capital Partners (Mount Elbert), and Canadian pension fund OPTrust.

In this investment, GIC will be the lead anchor investor in EdgeCore Internet Real Estate.

According to Chief Investment Officer of GIC Real Estate Mr Lee Kok Sun, GIC is pleased to partner with Mount Elbert and OPTrust in this venture.

“As a long-term value investor, we believe the secular growth in data consumption and public cloud usage will generate attractive returns in the data centre sector,” Mr Lee said.

Initially, EdgeCore will be capitalised with over US$800 million, equivalent to around S$1 billion, of equity targeted to support approximately US$2 billion in data centre development and investment. EdgeCore Internet Real Estate’s initial roll out of its North American data centre platform will include campus developments across six markets.

EdgeCore has acquired land in Mesa and Arizona. Prior to the end of this quarter, it intends to acquire sites in Dallas in Texas, and Reno in Nevada. Construction on each campus will commence immediately upon acquisition.

With each campus designed to deliver between 100 MW and 200 MW of critical power to customers, the Company plans to complete the first building in late 2018.

Moving forward, EdgeCore intends to acquire more sites in the second quarter of this year. This will be in three complementary Tier I markets, with a view toward commencing construction on each campus within the year.

“We are pleased and honoured to join forces with GIC and OPTrust, which we view as two of the world’s most capable and sophisticated investors. We are excited to execute upon our shared vision of creating a scalable North American data centre platform and we look forward to expanding with GIC and OPTrust as we work to grow EdgeCore Internet Real Estate beyond our initial roll out,” Chairman and CEO of EdgeCore Internet Real Estate and Mount Elbert Mr Tom Ray said.

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

As a Titanium Black Partner of Dell Technologies, CTC Global Singapore boasts unparalleled access to resources.

Established in 1972, we bring 52 years of experience to the table, solidifying our position as a leading IT solutions provider in Singapore. With over 300 qualified IT professionals, we are dedicated to delivering integrated solutions that empower your organization in key areas such as Automation & AI, Cyber Security, App Modernization & Data Analytics, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Renowned for our consulting expertise and delivering expert IT solutions, CTC Global Singapore has become the preferred IT outsourcing partner for businesses across Singapore.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.