Swiss private equity firm Partners Group acquired Australian data centre operator GreenSquare DC for AU$1.2bn ($758m), marking another significant international investment in the sector.

The deal reflects the rising demand for cloud computing and AI-driven infrastructure, which continues to fuel rapid expansion in the data centre industry. GreenSquare DC, founded in 2020 by commercial real estate expert Walt Coulston, owns a powered shell data centre in Sydney and has additional sites in Melbourne and Perth, strategically located near key power and fibre networks. Coulston was the sole owner of the company before the sale.

Partners Group, which manages $239bn in assets, has been actively expanding its digital infrastructure investments. Since 2021, the firm has allocated over $4bn to data centres, including projects in the US and Nordic region. The broader sector has seen increased investment as tech giants like Microsoft, Amazon, and Google continue to scale up their cloud and AI capabilities.

While financial terms beyond the overall deal value have not been disclosed, the acquisition positions Partners Group to capitalise on Australia’s growing demand for data centre capacity.