Stonepeak Partners is in advanced talks to invest more than $1bn in Princeton Digital Group, a Singapore-based data centre operator backed by Warburg Pincus. 

The potential deal, reportedly structured as a form of equity investment, would mark another major push by the US infrastructure investor into Asia-Pacific’s booming digital infrastructure space.

According to Bloomberg, negotiations are ongoing, and final terms, including the investment size and structure, may still change. Both Stonepeak and Princeton Digital declined to comment.

Founded in 2017 by Warburg Pincus and Rangu Salgame, Princeton Digital operates over 20 data centres across China, Singapore, India, Indonesia, Malaysia, and Japan. The company has raised over $1.2bn this year to scale up AI-ready infrastructure across Asia, following a previous $500m funding round in 2022 led by Mubadala, alongside Warburg Pincus and Ontario Teachers’ Pension Plan.

Stonepeak is among several infrastructure-focused investors that have previously shown interest in Princeton Digital, including BlackRock-backed Global Infrastructure Partners and Morrison. The company has reportedly considered both minority and controlling stake sales with the help of financial advisers.

This potential transaction would further expand Stonepeak’s footprint in Asia, following its recent moves to acquire Seaco for $1.75bn and hold exclusive talks over a buyout of Malaysia’s Yinson Holdings worth up to $2.1bn.

The investment underscores growing private equity and infrastructure fund appetite for digital infrastructure across Asia, driven by surging demand for data capacity and AI-ready facilities.

Source: Bloomberg 

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