Iron Mountain and AGC Equity Partners formed a joint venture.

Iron Mountain, a storage and information management services company, and AGC Equity Partners, a global alternative asset management firm, formed a joint venture to design and develop a 280k square foot, or 27 megawatt, hyperscale data center currently under development in Frankfurt, Germany. Financial terms were not disclosed. "We are pleased to partner on the Frankfurt Data Center with AGC, a premier real estate and private equity investor with a strong global data center platform, to support this exciting data center growth opportunity and to continue to build-out our global platform. This partnership represents an important strategic step towards our goal of identifying alternative sources of capital to fund accelerating growth, as proceeds from the Venture will be redeployed into higher return development opportunities," Mark Kidd, Iron Mountain Executive Vice President and General Manager of Data Centers.