Top private equity news of the week

Blue Owl Capital has closed its third digital infrastructure fund at $7bn, surpassing its original $4bn target and reaching its hard cap.

The vehicle – Blue Owl Digital Infrastructure Fund III (ODI III) – will focus on building and acquiring mission-critical data centres and related assets for hyperscale clients, including global technology companies scaling artificial intelligence and cloud infrastructure.

KKR has agreed to forward fund Progress House, a 544-bed purpose-built student accommodation development near the University of Warwick, marking its latest strategic investment in the UK living sector.

The project is being delivered in partnership with Inhabeo, KKR Real Estate’s European living platform, alongside PBSA developer Gilltown and general contractor Winvic. Located on the site of a former office building, the six-storey scheme will provide modern residential facilities for students, complemented by a 4,000 sq ft ground floor commercial unit serving both residents and the wider community.

Read more here.

Evercore has made a major hire to accelerate its European growth strategy, appointing Luigi de Vecchi, one of Citigroup’s most senior dealmakers, as Chair of its continental European business.

De Vecchi will join the firm in July and spearhead the launch of a new office in Milan, while also maintaining a base in Paris.

The move marks a significant step in Evercore’s continued effort to expand its international advisory franchise, following last year’s high-profile recruitment of three senior Lazard bankers in France. De Vecchi’s appointment signals the firm’s intent to challenge more established players across key European financial hubs.