Cromwell Property, Stratus Form $1B Data Center Fund

Law360 (July 13, 2020, 3:15 PM EDT) -- Cromwell Property Group has formed a venture with Stratus Data Centres to manage a new data center fund that will target $1 billion worth of investments, the companies announced on Monday.

Cromwell and Stratus, which is part of Hong Kong-based private equity shop EXS Capital Group, will manage and invest in the fund, known as Stratus Cromwell Data Centre Fund.

The investment comes as demand for data center space is surging, in part due to the COVID-19 pandemic.

Stratus and Australia-based Cromwell Property Group have already identified multiple data center properties in Europe for the fund to purchase, the firms said...

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