Singapore's GLP closes first digital infrastructure fund at US$358 million in AUM

[SINGAPORE] Singapore-based GLP has successfully wrapped up its inaugural digital infrastructure-based fund, the GLP China IDC Income Fund I, with assets under management of US$357.76 million, the investment manager said on Tuesday (Apr 1).

The fund, supported by a consortium of prominent domestic and international institutional investors, will take over a data centre in the Greater Beijing region from the investment firm, company said.

The data centre is operational, environmentally sustainable and is fully rented to a prominent e-commerce firm, it added.

The move comes as a surge in artificial intelligence, cloud services and other high-end technology has driven up demand for data centres across the globe.

Multiple US government agencies have projected that data centre demand will likely triple within the next three years, consuming 12 per cent of the entire US power supply.

GLP, founded in 2009, is a business builder and investment manager, and through its subsidiary GLP Capital Partners, it manages more than US$80 billion of assets, according to its website. REUTERS