Abu Dhabi’s sovereign wealth fund Mubadala has invested in data center developer Yondr.
The size of the investment was not disclosed.
The wealth fund invested in Yondr via an existing investment by US asset manager Apollo.
Apollo Global Management invested an undisclosed amount in Yondr last year. Mubadala and Apollo have partnered on several occasions.
Mubadala said its investment will support Yondr’s growth strategy amid increased demand for hyperscale data centers.
“We are witnessing a strong growth in demand for hyperscale data centers in response to the rising data demands from AI adoption, 5G, and IOT, and Yondr will play a key part in providing solutions for some of the world’s fastest growing corporations,” said Mounir Barakat, senior executive director of digital infrastructure at Mubadala.
Chester Reid, CFO at Yondr, added: “We are pleased to welcome Mubadala as a key financial partner. With their additional support we are well-positioned to accelerate our growth and continue delivering sustainable data center solutions to our clients worldwide, meeting the increasing demand for capacity.”
This is not the first time Mubadala has invested in data center assets. In 2023, the wealth fund invested in Aligned Data Centers and it invested in pan-Asian data center operator Princeton Digital Group in 2022.
Mubadala has also invested in global fiber network providers such as the UK’s CityFibre and GlobalConnect.
Headquartered in London and owned by single-family investment office Cathexis, Yondr is a developer, owner, and operator of data centers. The company currently has a contracted capacity of 878MW, with 58MW currently operational. The company has projects in Virginia, UK, Malaysia, Japan, Germany, and India.
Apollo previously acquired and floated service provider Rackspace, acquired Yahoo! in 2021 from Verizon, and recently sold tower firm Parallel Infrastructure to Harmoni Towers.
