Macquarie Asset Management has reportedly been selected as the preferred bidder for a newly-built data center in Seoul, South Korea.
Seoul Property Insight and others report that Igis Asset Management has chosen Macquarie to acquire the Hanam Data Center in Gyeonggi province outside of Seoul.
The investment firm is said to be in due diligence for the 40MW facility, which is set to launch this year. Terms of the deal haven’t been shared.
Founded in 2010, Igis Asset Management is a major asset management company in APAC. It has close to $50 billion in assets under management; almost four percent is invested in data centers. The firm closed its second data center fund last year with $151 million in investment.
LG CNS, an IT services subsidiary of LG Corp, signed an agreement with Igis to develop data centers last year. At the time, the companies said they were working together to build large-scale data centers in South Korea, including the Hanam Data Center and Samsung Data Center.
The company is said to have broken ground on the 41,900 sqm (451,030 sq ft) data center in October 2021. Reports that Igis was looking to sell the facility surfaced in November 2023.
Macquarie’s data center investments include Aligned, STT GDC’s European unit Virtus, NTT GDC’s European and North American facilities, and AirTrunk in APAC – though it is said to be close to selling the latter company. Macquarie Capital has also invested in European operator KevlinX.
