Stoneweg European Business Trust has announced a €50 million investment in the Stoneweg Icona data-centre fund, marking a significant step into Europe’s burgeoning hyperscale data centre market. The investment, made through the Stoneweg Europe Stapled Trust, provides early exposure to four data centre development sites across Ireland, Spain, Italy, and Denmark.
The projects, covering 225 hectares, have secured 1,116 MW of power, with the potential to expand to 1,679 MW. These assets are projected to achieve a Gross Development Value of €29.5 billion over 15 years, positioning the platform to become Europe’s largest data centre operator by power capacity. The phased development is expected to have minimal impact on SERT’s distribution, with significant cash distributions anticipated upon the fund’s redemption.
Simon Garing, CEO and Executive Director of the Manager, stated, “We are pleased to announce this landmark investment: SERT is well positioned alongside our Sponsor in a unique and high-quality development fund at the forefront of Europe’s rapidly expanding data centre market.”
Max-Hervé George, Chairman and Co-CEO of SWI Group, added, “Our IDC platform drives the development of data centres in Europe’s most strategic locations – powering the future of AI and cloud computing with flexible capital and deep local expertise.”
This strategic investment aligns with SERT’s 2020 strategy to diversify into high-growth infrastructure assets, complementing its existing data centre holdings in Denmark and Poland. The investment is expected to enhance SERT’s portfolio value and attract stronger investor interest, supporting premium valuation multiples in line with market trends.
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