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Announced

Completed

Stonepeak completed a $570m investment in CoreSite.

Financials

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Transaction Value£491m
Consideration TypeCash
Capital Owned-
Capital Bid For-
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Friendly

Private Equity

Completed

data centers

real estate investment trust

United States

Acquisition

Domestic

Minority

Single Bidder

Private

Telecommunications infrastructure

Synopsis

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Stonepeak, an alternative investment firm specializing in infrastructure and real assets, completed a $570m investment in CoreSite, a hybrid IT solutions provider and subsidiary of American Tower. 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.

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