Princeton Digital Group (PDG), a major Asia Pacific data center operator headquartered in Singapore, said it had signed a definitive agreement for a $1.3 billion preferred equity investment from alternative investment firm Stonepeak to support its regional expansion plans.
The investment follows PDG’s $1.2 billion debt financing earlier this year. Together, the two transactions raise PDG’s total 2025 fundraising to $2.5 billion, the company said.
PDG currently operates over 1.1 gigawatts of capacity across six Asia Pacific markets including Singapore, Japan, India, Indonesia, China and Malaysia.
Its major shareholders include Warburg Pincus, Ontario Teachers’ Pension Plan, and Mubadala. Warburg Pincus will remain PDG’s largest investor following the Stonepeak deal.
Rangu Salgame, Chairman, CEO and Co-founder of PDG, said the new investment strongly validates PDG’s business strategy, execution and long-term value creation.
He noted that Stonepeak’s support would help the company scale rapidly and continue serving top-tier hyperscaler clients amid growing demand for AI and cloud infrastructure across the region.
Andrew Thomas, Senior Managing Director at Stonepeak, said PDG had emerged as one of the leading digital infrastructure platforms in Asia Pacific, citing its execution record, management team and presence in key markets.
He described the investment as a strong fit with Stonepeak’s Asia infrastructure strategy and said the firm looks forward to working with PDG’s team and existing shareholders to drive the company’s next phase of growth.
Ellen Ng, Co-Head of Asia Real Estate at Warburg Pincus, said the deal underlines confidence in PDG’s founders and execution capabilities. She added that Stonepeak’s entry as a partner reinforces PDG’s market leadership and long-term growth strategy.
Goldman Sachs, J.P. Morgan, and Latham & Watkins advised PDG on the transaction. Barclays acted as financial advisor to Stonepeak, with Sidley Austin as legal counsel.
Global demand for data centers has surged in recent years, driven by the expansion of cloud services, artificial intelligence workloads, and increased digitalization across industries.
According to industry analysts, the Asia Pacific region has become a major growth market as both global tech giants and regional players race to secure capacity to support rising internet usage and enterprise digital transformation.