Non-binding offers have been submitted for Oaktree Capital Management’s minority stake sale of Pure Data Centres, NPM understands.

Bidders began submitting first-round offers last week, according to two sources.

Antin Infrastructure, GIC, and Sixth Street have been named as potentially interested parties in the up to 40% stake sale process.

Blackstone, CPP Investments, EQT Group, KKR, MGX, Mubadala Infrastructure Partners, PSP Investment, and TPG have also been previously named as potential bidders. It is not yet clear which parties have submitted an offer.

The deal is expected to give the company a valuation of between GBP 3bn to GBP 3.5bn, according to sources.

As exclusively reported by NPM in December 2025, Goldman Sachs and Guggenheim are running the process on behalf of Oaktree. EY-Parthenon is also involved on the sellside.

Teasers for the process were distributed by the sellside banks in July, as reported by NPM at the time.

Last month, NPM also reported that the Oaktree-backed developer had closed syndication of EUR 1.3bn in committed senior debt to fund the phase one development of its 550 MW Seinäjoki AI campus.

The mandated lead arrangers (MLAs) are made up of five banks including ABN AMRO, Citi, Natixis CIB, Sumitomo Mitsui Banking Corporation (SMBC) and Societe Generale. The EUR 1.3bn funds were divided evenly between the banks, according to sources.

NPM is tracking several Pure DC project across its database.

Guggenheim and Oaktree declined to comment. Goldman Sachs and Pure DC did not respond to a request for comment.