DigitalBridge Group, a US-based global asset manager focusing on mobile and internet connectivity investments, announced on Wednesday that Saudi Arabia’s Public Investment Fund (PIF) has become an investor in its new venture, aimed at developing data centers in Saudi Arabia and other Gulf Cooperation Council (GCC) countries.
The partnership will initially prioritize investments in the data center sector and is expected to explore additional segments of digital infrastructure in the future, such as macro towers, fiber optics, small cells and edge infrastructure, according to a statement released by the New York Stock Exchange-listed company.
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The investment seeks to localize advanced technologies, facilitate knowledge transfer and enable the development and operation of hyperscale data centers and database servers in Saudi Arabia and the wider GCC region.