ESR Announces The First Closure Of Its Initial Data Center Fund At Over $1 Billion.
About the ESR ESR is the third-biggest listed real estate investment manager globally and the largest real asset manager in APAC propelled by the New Economy. Our fully integrated development and investment management platform spans key APAC markets, including China, Japan, South Korea, Australia, Singapore, India, New Zealand, and Southeast Asia, accounting for over 95% of APAC's GDP. It also has a growing presence in Europe and the U.S., with total assets under management (AUM) of US$140.2 billion. In our private funds business, we offer a wide range of real asset investment options and New Economy real estate development prospects that enable capital partners and customers to profit from the most important secular trends in APAC.
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With a US$45 billion total AUM, ESR is the largest sponsor & manager of REITs in APAC. We are driven to manage sustainably and effectively by our purpose, Space and Investment Solutions for a Sustainable Future, and we view the environment and the communities in which we operate as vital stakeholders of our business. ESR is a component of the FTSE Global Equity Index Series (Large Cap), Hang Seng Composite Index, and MSCI Hong Kong Index and is listed on the Main Board of The Stock Exchange of Hong Kong.
ESR announced the first closure of its initial Data Center Fund On July 26, 2022, ESR Group Limited stated that it has received over $1 billion in equity commitments for Data Centre Fund 1, its first investment vehicle. The third-biggest listed real estate investment management globally and the largest real asset manager in APAC have set up a fund specifically for the expansion of their expanding data centre business. Some of the biggest institutional investors in the world, including sovereign wealth & pension funds, are represented by ESR DC Fund 1. To co-invest in the fund, ESR will raise a separate discretionary capital sleeve, which is expected to close the fund's balance at the $1.5 billion hard cap. The partners also have the option to increase their equity commitment by an additional $1.5 billion, which would eventually increase the overall investment capacity to as high as $7.5 billion.
The 300 megawatts of IT load delivered by the data centre projects in ESR's current data centre development portfolio are predominantly located in key data centre clusters around Asia, including Hong Kong, Osaka, Tokyo, Seoul, Sydney, Mumbai, and Singapore. One of these initiatives is the development of a significant asset the group purchased in Osaka into a multi-phase data centre campus, with a development potential of up to 95 MW IT load to serve both hyperscalers & co-location operators in the fast expanding Osaka market.
The co-founders and co-CEOs of ESR, Jeffrey Shen and Stuart Gibson, declared that "APAC is the key market for data centre expansion & investment in the new era of digitalization." As we continue to expand and build our digital infrastructure business, the sizeable first closing of our maiden data centre fund is an important milestone for ESR. We appreciate our funding partners' steadfast backing of this fascinating Endeavour.
"As the largest New Economy real estate platform in APAC, we have been looking to leverage our core competitive advantages - our deep land sourcing capabilities, best-inclass design & construction capabilities, an integrated investment management platform, as well as commitment to sustainability - with a singular focus to support our capital partners & customers to thrive and capitalize on the growing demand for digital infrastructure in the future.
Investor interest in APAC data centres continues to be driven by the rapid increase in data consumption, which is fueled by the continuous expansion of cloud computing & social media use, with investment in the industry reaching record levels in 2021[1]. While direct investments in the APAC data centre sector reached a record high of US$4.8 billion in 2021—more than double the previous high of US$2.2 billion in 2020 and exceeding investment volumes for the previous four years combined[3]—data consumption has increased by four times over the past five years in Asia[2, 2].
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