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Thursday, 14 July 2023
 

Aware Super has added its first data centre investment to the fund’s circa A$16 billion global infrastructure portfolio with a significant investment in Switch, a US-based 100% renewablespowered data centre platform.

The investment was made via a partnership with DigitalBridge Group, Inc. (NYSE: DBRG) (“DigitalBridge”). It follows the take-private of Switch in December 2022 in which investment vehicles affiliated with the investment management platform of DigitalBridge and an affiliate of IFM Investors acquired all outstanding common shares of Switch, Inc. for US$34.25 per share in cash, or approximately US$11 billion, including the repayment of outstanding debt.

Aware Super’s Head of Infrastructure, Mark Hector, said he was excited by the opportunity to bring further diversification and an additional source of risk-adjusted returns for the fund, which currently serves 1.2 million members.  

”Incorporating our first data centre platform will create desirable sector and geographic diversification for our portfolio and offer inflation protection,” he said. 

Jon Mauck, Senior Managing Director at DigitalBridge, said: “Aware Super recognises the role of digital infrastructure in the ongoing digitisation of the global economy, and we welcome the opportunity to partner with them to invest in Switch, one of the industry's fastest-growing and highest-quality data centre portfolios.”

Kevin Smithen, Chief Commercial and Strategy Officer at DigitalBridge, said: “As a renewables-powered digital infrastructure investment, Switch is at the forefront of innovation in the data centre industry, and we are delighted to partner with Aware Super as they further expand their portfolio into North America and Europe and increase exposure to high-quality digital infrastructure investments.”

Mr Hector noted the asset's achievement of offering secure and resilient data centre facilities, having experienced zero downtime in its over-20-years operating history.  

He also highlighted Switch’s 16 data centres, spread across five campuses with 500MWs of inplace capacity, are powered by 100% renewable energy.  

”Since 2016, Switch has achieved zero Scope 1 and Scope 2 carbon emissions, a feat that is combined with their patented innovations in design, power, cooling, and density, to result in industry-leading operational efficiencies.

”All of these characteristics are coupled with strong digitalisation tailwinds, an attractive business case and successful track record, to make a compelling investment opportunity.” 

He added the Infrastructure Team’s focus on direct and selective co-investment opportunities with trusted, like-minded partners helped generate the strongest possible riskadjusted returns.  

“We look forward to working alongside the highly experienced team at Switch and our equity partner DigitalBridge, as it continues to build momentum along its growth trajectory in this enterprise co-location and private cloud business with a well-diversified customer base.” 

For media enquiries, contact:

Sara Bradford, Senior Manager External Affairs

t:  0478405382

e: sara.bradford@aware.com.au

Jonathan Keehner/Aura Reinhard, Joele Frank, Wilkinson Brimmer Katcher

t: (212) 355-4449

e: dbrg-jg@joelefrank.com

Notes to Editors

About Aware Super 

Aware Super is one of Australia’s top-performing and largest industry super funds with A$160 billion FUM (from 1 July 2023). We always remember whose money it is and whose future we’re looking after. It’s why we invest to achieve strong risk-adjusted returns over the long term for more than 1 million members.  

As one of the top 50 institutional investors globally, we typically take an active management approach across alternative assets, including infrastructure, real estate and private equity, and additionally allocate to liquid markets. Visit www.aware.com.au to learn more.  

About DigitalBridge

DigitalBridge (NYSE: DBRG) is a leading global alternative asset manager dedicated to investing in digital infrastructure. With a heritage of over 25 years investing in and operating businesses across the digital ecosystem including cell towers, data centres, fibre, small cells and edge infrastructure, the DigitalBridge team manages a US$69 billion portfolio of digital infrastructure assets on behalf of its limited partners and shareholders. Headquartered in Boca Raton, DigitalBridge has key offices in New York, Los Angeles, London, Luxembourg and Singapore. For more information, visit: www.digitalbridge.com.  

About Switch  

Switch is the independent leader in exascale data centre ecosystems, edge data centre designs, industry-leading telecommunications solutions, and next-generation technology innovation. Switch Founder and CEO Rob Roy has developed more than 700 issued and pending patent claims covering data centre designs that have manifested into the company’s world-renowned data centres and technology solutions. Visit www.switch.com for more information.