Mubadala Investment, the $243bn Abu Dhabi-based sovereign wealth fund, made a $350m equity investment in Princeton Digital Group, a Singapore-based pan-Asia data center operator, according to a news release.
PDG’s existing shareholders — New York-based private equity firm Warburg Pincus and the $179bn Ontario Teachers’ Pension Plan Board, Toronto — made follow-on investments as well, lifting the combined investments for the round of fundraising to more than $500m.
A PDG spokeswoman declined to provide details regarding the stakes Mubadala, Warburg Pincus and OTPP hold in the company, beyond saying that Warburg Pincus — PDG’s initial backer when the data center operator was established in 2017 — remains its largest shareholder.
Read more: Pensions & Investments
