DigitalBridge Announces PIF as an Investor in a New Partnership Aiming to Develop Data Centers in Saudi Arabia and the GCC Region
DigitalBridge Group, Inc. (NYSE:DBRG) (“DigitalBridge”), a leading global asset manager dedicated to investing in the next generation of mobile and internet connectivity, announced today that the Public Investment Fund (“PIF”) is an investor in a new partnership managed by DigitalBridge, aiming to develop data centers in Saudi Arabia and across the Gulf Cooperation Council (“GCC”).
The partnership will initially prioritize investments in the data center sector, and is expected to explore other segments of digital infrastructure in the future, including macro towers, fiber, small cell, and edge infrastructure. Partnering with DigitalBridge will support the enhancement of digital infrastructure in Saudi Arabia to the highest global standards, in line with PIF’s strategy.
The investment aims to localize cutting-edge technologies and support knowledge transfer to develop and operate hyperscale data centers and database servers in Saudi Arabia and the GCC region, in accordance with the best practices in this vital sector which will help large local and international corporations to carry out their business in the region with greater efficiency.
“As a global leader in digital infrastructure, we are pleased to partner with PIF to further enable the digital infrastructure buildout in Saudi Arabia and across the GCC countries. We see significant opportunity for continued growth in the sectors in which we specialize and look forward to leveraging our capabilities and expertise to capitalize on the long-term opportunities across this important region,” said Marc Ganzi, Chief Executive Officer, DigitalBridge.