AUSTRALIA: Dexus-backed data centre platform seeks capital partners

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Dexus data centre platform market sounding for new equity investors
Seeking investors in projects to fund growth
Mid-market infrastructure investors considering bidding

Australian fund manager Dexus’ Australian Data Centres (ADC) platform is seeking capital partners to help fund its growth, sources said.

The process involves a market sounding for external investors in its projects at this stage, they added.

Potential investors that have looked at the business include mid-market infrastructure fund managers, they said.

One said Dexus may consider a sale of a stake in ADC itself but another source said it only involves seeking investors into its projects.

ADC has two operating data centres in the industrial suburbs of Mitchell and Fyshwick in Australia’s capital city, Canberra, according to its website.

The ADC Mitchell Data Centre is a 7 MW co-location facility serving government and enterprise customers, according to an online brochure and other publicly available information.

ADC acquired Verizon’s Sterling Data Centre in Fyshwick in December last year. The facility was constructed in 2009, according to an online fact sheet.

ADC’s website lists three projects in development in Melbourne, Sydney and Darwin and three more at the planning stage in Brisbane, Perth and Adelaide.

It doesn’t provide any further details.

The sources said its current data centres do not exceed 10 MW but two of its projects in development or planning are slated to be 200 MW each.

Dexus is an ASX-listed property and infrastructure fund manager. It invests with its balance sheet as well as managed property and infrastructure funds.

Dexus owns a majority stake in ADC, which it holds on its corporate balance sheet, the sources said.

Dexus Holdings Pty Ltd became the new ultimate holding company of ADC in February 2025, according to corporate filings with the Australian Securities and Investments Commission.

Several executives in Dexus’ infrastructure team became directors of ADC at that time, the filings show.

Spokespeople for Dexus and ADC declined to comment.