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‘No other sector like it’: KKR sees no let-up in AI-driven infrastructure boom after STT GDC deal

Deep pools of private capital are chasing data centres, one of Asia’s most capital-intensive asset classes

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Benjamin Cher

Benjamin Cher

Published Thu, Feb 12, 2026 · 07:00 AM
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    • Projesh Banerjea, managing director and part of the Apac infrastructure team at KKR, says digital infrastructure has singular capital needs, "both in terms of building assets and recycling of assets through buying stabilised assets".
    • Projesh Banerjea, managing director and part of the Apac infrastructure team at KKR, says digital infrastructure has singular capital needs, "both in terms of building assets and recycling of assets through buying stabilised assets". PHOTO: YEN MENG JIIN, BT

    [SINGAPORE] Digital infrastructure is soaking up enormous amounts of capital, with most of that money going to data centres, thanks to the insatiable demand for artificial intelligence.

    Case in point: the KKR-Singtel acquisition of ST Telemedia Global Data Centres (STT GDC). The recently announced deal, which is for the interest that the companies do not already own, values STT GDC at S$13.8 billion.

    This makes it one of the largest digital infrastructure transactions in South-east Asia.

    KKRInfrastructurePrivate equityData centresSingtelAsia-PacificAsean

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