Singapore-headquartered data centre colocation services provider ST Telemedia Global Data Centres ( STT GDC ) has raised S$1.75 billion ( US$1.3 billion ) from a consortium led by global investment firm KKR and Singapore-based communications technology group Singtel, marking the largest digital infrastructure investment in Southeast Asia to date in 2024.

The transaction comprises an initial S$1.75 billion 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$1.24 billion.

The proceeds of the investment will be used to further advance STT GDC’s position in the markets in which it operates, 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.

The company is one of the world’s fastest-growing data centre providers with more than 95 data centres across 11 geographies and points of presence in over 20 major business markets. It provides critical services, including high-quality colocation, connectivity and round-the-clock support services. Its data centre portfolio has a total combined capacity of more than 1.7 gigawatts of IT load.

“We are thrilled to welcome KKR and Singtel, two blue-chip investors in the digital infrastructure space into the STT GDC group,” says Bruno Lopez, the company’s president and group CEO. “Since our inception 10 years ago, we have developed into a leading data centre provider with a significant footprint in Asia, UK and Europe, supporting the growth of the world’s largest cloud and enterprise customers.

“With the industry experiencing unprecedented cloud and artificial intelligence-led growth, this strategic partnership with KKR and Singtel will be a significant catalyst for the company’s next chapter of growth in the digital infrastructure industry.”