Mubadala-backed KKR completed the acquisition of CoolIT Systems.

Mubadala-backed KKR, a global investment firm, completed the acquisition of CoolIT Systems, a provider of scalable liquid cooling solutions. Financial terms were not disclosed. “Increasing data and computing needs are on a collision course with sustainability considerations – the data center industry is expected to consume 8% of the world’s energy by 2030.1 As a firm, we have committed more than $17bn to digital infrastructure since 2011 and deeply appreciate the mission critical role that it plays in enabling our economy. We also recognize that as a society, we are grappling with the enormous energy usage and related environmental impacts that are only expected to accelerate with the rise of AI and other high performance applications. We believe that liquid cooling has a critical role to play in helping to reduce the emissions footprint of our digital economy and we are thrilled to back CoolIT, a leader in this space," Kyle Matter, KKR Managing Director and Head of Global Impact.