Stonepeak, a leading alternative investment firm specializing in infrastructure and real assets, invested an additional $570.0 million, which, together with its initial $2.5 billion investment in August 2022, on a fully converted basis and based on the currently outstanding equity, represents an approximately 36% ownership interest in American Tower’s U.S. data center business.
The conversion is expected to occur four years from the date of the initial closing in August 2022. The upsize transaction was completed on October 20, 2022. The upsize investment comprises both common equity and mandatorily convertible preferred equity, on the same terms and valuation as the initial investment. Stonepeak’s investment is part of its core infrastructure strategy.
