Strategic Capital Fund Management, an alternative investment product sponsor focused on digital economy investments, has created Strategic Datasphere LLC, a data center investment platform.
The platform was formed in partnership with a management team led by chief executive officer Bryan Marsh, a senior industry executive formerly with Digital Realty Trust Inc. (NYSE: DLR) and head of data centers at Strategic Capital, and certain funds and accounts managed by “a large, global institutional fixed income manager,” which was not named by the company.
Datasphere will be focused on the acquisition, development and management of fully and partially stabilized data center facilities across North America and Europe, including through sale-leaseback transactions with technology, communications, cloud, enterprise and public sector tenants.
Marsh has approximately 40 years of commercial real estate experience and previously served as vice president and portfolio manager at Digital Realty Trust, a publicly traded real estate investment trust that invests in carrier-neutral data centers. While at Digital Realty, he reportedly had responsibility over approximately 8 million square feet of data center real estate valued at approximately $5 billion across its U.S. Central Region.
The company noted that Datasphere has received initial commitments of up to $500 million of equity capital from its U.S. based investment partner, which is expected to support more than $1.5 billion of data center investments and may be supplemented with additional equity commitments over time.
“[Data centers] have proven their resiliency as essential infrastructure throughout the COVID-19 pandemic and we believe next-generation technologies like 5G, autonomous vehicles, artificial intelligence and more will create long-term sustainable growth in the sector. We are excited to partner with a high-quality institutional investor who shares our vision for this dynamic asset class,” said Jim Condon, managing partner at Strategic Capital.
Strategic Capital is currently focused on digital economy investments with an emphasis on digital infrastructure, sustainability and technology-centric sectors.