QuadReal, which manages $94 billion on behalf of Maple 8 pension fund British Columbia Investment Management, will finance data centres, housing and industrial storage buildings in the region through a new debt platform. The firm plans to allocate the money over the next three to five years, and eventually expand further into Europe. (The Logic)
Talking point: The financing will help the big tech companies, including Microsoft, Nvidia, Google and OpenAI, looking to build data centres in the U.K. and Ireland. “There is not enough capital around right now to suck up what’s being built,” QuadReal executive Jonathan Dubois-Phillips told the Financial Times. The “chronic undersupply” of housing in the U.K. has created investment opportunities in that space, too, said Dubois-Phillips. The firm is already active in the U.K., with the new debt financing adding to its nearly $8 billion in equity invested in residential and student housing.