Gaw Capital raises US$1.3 bil for internet data centre platform

By Valerie Kor / EdgeProp Singapore | September 7, 2020 11:28 AM SGT
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SINGAPORE (EDGEPROP) - Real estate private equity firm Gaw Capital Partners has announced the closing of fundraising for its internet data centre (IDC) platform that aims to invest in projects in partnership with IDC developers and operators in China. The total equity raised is around US$1.3 billion ($1.8 billion).
The largest investor is a wholly-owned subsidiary of the Abu Dhabi Investment Authority (ADIA), says Christina Gaw, managing principal and head of capital markets. She adds that Gaw Capital has plans to grow into other Asia regional markets.
According to a press release from Gaw Capital, the total IDC market size in China grew more than 10 times to RMB127.7 billion ($25.5 billion) from RMB10.2 billion. It will continue to grow rapidly sustained by China’s push towards greater digital transformation and technology adoption.
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Humbert Pang, managing principal and head of China, says, “Amid the backdrop of pandemic and the rapid adoption of 5G in China, there is a strong demand for data processing services due to increase in data usage, as a result of social distancing measures.”
He adds that as social and economic activities migrate online, “data centres in promising locations along the densely populated region of China are emerging as valuable assets that produce stable rental income”.
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