Princeton Digital Group (PDG), one of Asia Pacific’s largest data center operators, said on Thursday it has secured a $1.3 billion preferred equity investment from alternative investment firm Stonepeak, bolstering its expansion plans amid rising demand for AI and cloud infrastructure in the region.
The transaction brings PDG’s total capital raised in 2025 to $2.5 billion, following $1.2 billion in debt financing earlier this year.
The fresh funds will support both greenfield developments and acquisitions across established and emerging markets in Asia Pacific.
“This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation,” said Rangu Salgame, PDG’s chairman, CEO, and co-founder. “With this partnership, PDG is uniquely positioned to scale with speed and continue being the trusted provider to the world’s most demanding hyperscalers.”
PDG currently operates a portfolio exceeding 1.1 gigawatts of capacity across six countries, including Singapore, Japan, India, Indonesia, China, and Malaysia.
Its major backers include Warburg Pincus, Ontario Teachers’ Pension Plan, and Mubadala. Warburg Pincus will remain PDG’s largest shareholder.
Stonepeak’s Senior Managing Director Andrew Thomas described PDG as “one of the clear leaders among digital infrastructure platforms in Asia Pacific,” citing its management team and capacity in key hub markets as reasons for the investment. “This investment is a quality fit for our Asia infrastructure strategy,” Thomas said.
Ellen Ng, Co-Head of Asia Real Estate at Warburg Pincus, said the deal validates PDG’s long-term strategy: “We are excited to welcome a like-minded partner to help propel the company into its next phase of growth.”
Goldman Sachs, J.P. Morgan, and Latham & Watkins advised PDG. Barclays and Sidley Austin advised Stonepeak.
PDG’s announcement comes as investor interest in digital infrastructure accelerates, driven by surging AI workloads and cloud services demand across Asia.
Business News Asia
