Singapore-headquartered real estate investment manager SC Capital Partners has emerged as the sole potential bidder for British data centre group Global Switch, two people familiar with the matter told Reuters. As of April 10, SC Capital is reportedly the only bidder with a potential purchase price of between US$ 4 billion and US$ 5 billion. The firm, backed by global real asset manager CapitaLand Investment is working with advisers to buy the London-based company, which is currently controlled by Chinese steelmaker Jiangsu Shagang Group.
Talks are ongoing and subject to market conditions, and a deal is not guaranteed. All parties declined to comment officially to date.In 2023, a potential sale to Swedish private equity group EQT valuing Global Switch at around US$ 8 billion including debt did not materialise, Reuters reported.
Meanwhile, SC Capital had in late March announced the final closing of US$ 900 million for its sixth opportunistic Asia Pacific real estate fund, Real Estate Capital Asia Partners VI L.P. (“RECAP VI” or the “Fund”) and related entities. RECAP VI focuses on growth-oriented, opportunistic investments across the developed markets in Asia Pacific, especially in hospitality and technology. To date, RECAP VI has already committed more than 70% of total raised equity, with 44% allocated to Japan, specifically in the hospitality and data centre sectors.
RECAP VI’s investments include the acquisition of a portfolio comprising 27 hotels in Japan, managed by Japan Hotel REIT Advisors (“JHRA”), a specialist in local hotel asset management and operations, and a majority-owned subsidiary of SC Capital Partners.
The Fund is also developing a data centre campus in Osaka, Japan and a hyperscale facility in Bucheon, South Korea, in collaboration with SC Zeus Data Centers, the firm’s in-house data centre operating platform. These investments align with RECAP VI’s strategy of targeting sectors driven by long-term macro trends, which continue to experience strong demand fuelled by digital transformation and the expanding cloud infrastructure across the Asia Pacific region.
Global interest in digital infrastructure has not been dampened by the current uncertain macro environment triggered by U.S. President Donald Trump’s tariffs. Against the backdrop of rising demand for artificial intelligence and cloud computing-based services, digital infrastructure assets such as data centres are increasingly gaining investors’ attention.
Founded in 2004, SC Capital has over 60 institutional investors globally and around US$ 6 billion in total investments, according to its website. In November, it announced that CapitaLand Investment, also based in Singapore, will acquire an initial stake of 40% in the firm for S$ 280 million (US$ 207.67 million), with the option to buy the remaining 60% in phases over the next five years.
