Princeton Digital Group Receives $1.3bn from Stonepeak

Asia Pacific-focused data center operator Princeton Digital Group has raised $1.3 billion from Stonepeak following its $1.2 billion debt financing deal back in May.

“This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation,” said Rangu Salgame, chairman, CEO, and co-founder of PDG.

“Stonepeak shares our deep conviction in the unprecedented growth of AI and cloud across Asia Pacific. With this partnership, PDG is uniquely positioned to scale with speed, continue being the trusted provider to the world’s most demanding hyperscalers, and further consolidate its position as a market leader in the region.”

Other investors include the Ontario Teachers’ Pension Plan and Mubadala.

“The company’s track record of execution, top-tier management team, and significant power bank in critical hub markets in APAC positions it well to serve the continued demand from hyperscalers and AI-driven platforms in the region,” said Andrew Thomas, senior managing director at Stonepeak.