OTTAWA—Toronto-based Fengate Asset Management has acquired control of a data-center services provider in one of the biggest privately-led Canadian deals of the year.
Fengate, an alternative-asset manager, will hold over two-thirds of the equity in eStruxture Data Centers through a transaction totaling 1.8 billion Canadian dollars, or the equivalent of $1.3 billion, marking a big bet on increasing demand for storage capacity with the growing use of artificial intelligence. Two-thirds, or C$1.2 billion, of the capital is in equity, and the remainder accounts for debt, Fengate said.
Source: WSJ
