A KKR-led consortium of KKR and Singtel will invest $1.3B in ST Telemedia Global Data Centres – STT GDC -, a data centre colocation services provider. This transaction marks the largest digital infrastructure investment in Southeast Asia to date in 2024. The transaction comprises an initial S$1.75B – ~$1.3B – investment by the Consortium via Redeemable Preference Shares with detachable warrants. Upon exercise of the warrants in full, the Consortium will invest an additional S$1.24B – ~$920M -. The proceeds of the investment will be used to further advance STT GDC’s position in the markets it operates in, and to support its continuing international expansion and growth plans through organic and inorganic strategies. Following the transaction, ST Telemedia continues to be the majority shareholder of STT GDC. KKR is making this investment from its Asia Pacific Infrastructure Investors II Fund.
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