Digital Colony Has Raised $4.1 Billion for Its Second Fund
(Bloomberg) -- Digital Colony, an arm of Colony Capital Inc., held a first close of more than $4.1 billion for its second fund dedicated to global communications-infrastructure investments, according to a memo sent to investors obtained by Bloomberg News.
The second fund has formed three investment platforms, including one dubbed Edgepoint focused on acquiring Asia Pacific towers that’s helmed by the former Edotco Group Sdn Bhd. CEO Suresh Sidhu.
Investors in the latest Digital Colony vehicle include the Teacher Retirement System of Texas, Employees Retirement System of Texas, Virginia Retirement System and the Orange County Employees Retirement System, according to data compiled by Bloomberg. Wafra Inc., which invests on behalf of Kuwait, has also committed capital to the fund, following the firm’s July purchase of a minority stake in Digital Colony that included a more than $400 million pledge.
A representative for Digital Colony declined to comment.
Digital infrastructure, which includes towers, data centers and fiber networks, have become an increasing area of focus for institutional investors amid enhanced reliance on technology and upgrades to existing infrastructure. GI Partners last year raised $1.8 billion for its debut data infrastructure fund, while firms including KKR & Co. and Goldman Sachs Group Inc. have continued to make wagers in the space.
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