Warburg Pincus and Macquarie Asset Management are nearing an investment in Chinese data center firm Bohao Internet Data Services Ltd., according to people familiar with the matter, amid booming investor appetite for digital infrastructure assets.
The US private equity firm and the arm of the Australian financial giant plan to invest about $450m in closely-held Bohao, the people said, asking not to be identified because the matter is private. The fundraising deal could boost Bohao’s valuation to more than $1 billion, the people said.
Talks are at an advanced stage and an agreement could be reached soon, the people said. The proceeds would help Bohao boost growth in China, they said.
Get the week’s top news delivered directly to your inbox – Sign up for our newsletter
Representatives for Bohao, Macquarie Asset Management and Warburg Pincus declined to comment.
Bohao, based in Guangzhou, operates high-performance data centers across several cities and regions in China, its website shows. In 2020, it raised about $295m from global institutional investors in a series A financing.
In May, Macquarie’s asset management unit said its third Asia-Pacific regional infrastructure fund had $4.2 billion in investor commitments. The fund’s investments include Bohao and Metcold Supply Networks in China, Summit Energy Alliance Ltd. in South Korea and Bersama Digital Infrastructure in Indonesia. It has also made investments in Australia and New Zealand.
Warburg Pincus has already invested in data center companies in Asia, including closely-held Princeton Digital Group Pte, which operates sites in countries such as China, Singapore, India, Indonesia and Japan.
Source: Yahoo Finance
CVC said to be selling GarudaFood stake, deal could value Indonesian company at up to $1.5bn
Private equity major CVC is reportedly in talks to sell its stake in Indonesian snack food…
Thoma Bravo closes in on $729m deal for Australia’s Nearmap
Aerial imagery company Nearmap said it agreed to an $729m takeover offer from Thoma Bravo,…
Warburg, Macquarie Said to Be Close to Backing China’s Bohao
Warburg Pincus and Macquarie Asset Management are nearing an investment in Chinese data center…
The post Warburg, Macquarie Said to Be Close to Backing China’s Bohao appeared first on Private Equity Insights.