Swiss private equity firm Partners Group has acquired Australian data centre operator GreenSquare DC for AU$1.2 billion (around US$758 million), highlighting growing international investment in the sector.

The demand for cloud computing and AI infrastructure continues to drive this expansion.

Founded in 2020 by Walt Coulston, GreenSquare DC owns a powered shell data centre in Sydney and sites in Melbourne and Perth near key power and fibre infrastructure.

Coulston, with a background in commercial real estate, fully owned the company before the sale.

Partners Group, managing US$239 billion in assets, has invested over US$4 billion in data centres since 2021, including projects in the US and the Nordic region.

The industry’s growth is fueled by tech giants like Microsoft, Amazon, and Google.

Details of GreenSquare’s clients and acquisition terms remain undisclosed.

Update: (March 10, 4:13 p.m. SGT): The transaction amount was AU$1.2 billion, not US$1.2 billion.