On October 15, Databank announced an approximately $2 billion equity raise led by AustralianSuper. AustralianSuper will become a significant minority shareholder in Databank and will join the company’s board of directors. AustralianSuper invested $1.5 billion, with a further $483 million contributed by existing investors. The investment marks AustralianSuper’s first foray into the US data center market.
DataBank reports that the funds will be used to fund growth across the company’s business operations. Three state-of-the-art data center campuses and expansion in other markets will add more than 850 MW of power to the company’s portfolio.
Databank CEO Raul Martinek said the financial support was a vote of confidence in the company’s strategy.
“This investment and our new campus are transformational for DataBank and our customers, allowing us to bring this capability to market now and seize the incredible opportunities before us. ,” Martynek said in a press release.
Databank has raised more than $4 billion in debt and equity in the past 12 months, including a green bond earlier this year. The new transaction is expected to close by the end of 2024.
