The London Fund to support region’s digital infrastructure via acquisition

Local Pensions Partnership Investments Limited today announces that The London Fund has agreed to co-invest alongside Macquarie Asset Management in its acquisition of a significant minority stake in London based VIRTUS, one of the “leading and fastest growing” hyperscale data centre platforms in London.

VIRTUS is an award-winning, pure-play data centre owner-operator, providing “state-of-the-art” critical digital infrastructure which provides vital connectivity and access to online services for residents and businesses in London and beyond.

With some of the world’s largest hyperscalers amongst its clients, the business provides intelligent solutions to improve the storage, retrieval, management and security of data across global networks.

Established in 2008, VIRTUS currently comprises 11 sites in and around London, including in Enfield, Hayes, Slough and Stockley Park, with a combined capacity of more than 100 megawatts.

As part of ST Telemedia Global Data Centres, VIRTUS has a proven track record of delivering new capacity in increasingly power-constrained areas such as West London. The business aims to build more sites in the Greater London area in line with increasing data needs, while beginning to expand its operations into Europe.

The VIRTUS investment also delivers on its Positive Social Outcomes promise by supporting London’s digital ecosystem through a data centre platform which matches its electricity consumption to 100 per cent renewable energy procurement alongside its wider commitment to net zero by 2030 and efficient water and energy usage.

Richard Tomlinson, chief investment officer, Local Pensions Partnership Investments, commented: “Digital infrastructure has been driven by long-term tailwinds including growing data consumption and the development of cloud computing and VIRTUS’s success is testament to this.

“With this investment, we’re pleased to be supporting a key global player in a rapidly growing sector, enhancing London’s digital ecosystem, whilst also proving that commercial success and a commitment to net zero can be compatible business goals.”

Vanessa Shia, head of private markets, London CIV, added: “We are delighted to have partnered up with Macquarie in our co-investment in VIRTUS through The London Fund. This builds on our continual focus to making critical investments in London and greatly complements our existing portfolio.

“This is one of our first direct investments in the digital infrastructure space, and, given the essential role it plays in supporting global connectivity by offering an alternative to travel and commuting, represents a pivotal investment on behalf of our clients in their journey to net zero.”

By Matthew Neville – Senior Correspondent, Bdaily

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