Data center, connectivity, and managed services provider DataBank received a $185m equity investment from Colony Capital.
Colony Capital has announced that the company made the investment into DataBank through the purchase of secondary equity interests from existing investors Edgewater Funds and Allstate. As a result of the agreement, Allstate will retain 50% of its interests and continue as a DataBank investor, while Edgewater will fully exit from its position. Nuveen will also continue as an investor in the company, holding its original stake. Edgewater’s Board Member will step down and be replaced by Justin Chang, Colony’s Global Head of Private Equity.
Secondary equity interests from existing investors
Raul K. Martynek, CEO of DataBank said:
“We are truly appreciative of the support we have received from Edgewater over these last four years. We look forward to having Colony Capital and its long-term investment vision behind DataBank as we continue to grow our platform.”
Justin Chang, Colony’s Global Head of Private Equity said:
“We are thrilled to be partnering with DataBank, its management team and investor group, to continue building the premier edge/colocation data center platform in the United States,” said Justin Chang. “We look forward to supporting the business with additional capital to fund potential add-on acquisitions and greenfield edge data center developments.”
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