CVC DIF and Northleaf Capital Partners announced Vault Digital Infrastructure, a joint venture they co-own with Landmark Dividend, has sold its U.S. data center portfolio to Igneo Infrastructure Partners, the direct infrastructure business of First Sentier Investors.
Vault is owned by CVC DIF (49%), Northleaf (49%), and Landmark (2%). The sellers said they built the portfolio over the last seven years through a local North American team at CVC DIF and Northleaf, assembling a diversified set of strategic data center assets across core U.S. markets with 75MW of critical capacity.
The portfolio includes seven operational co-location and enterprise data centers located in key U.S. markets. The sellers said the assets’ mission-critical use cases, tenant credit profiles, and broader sector demand trends supported predictable cash flows.
CVC DIF said it invested through its CIF I fund, while Northleaf invested through its mid-market infrastructure funds. The firms said Vault was formed in 2018 to acquire operational data centers and later expanded through initiatives that included lease extensions, facility expansions, new tenancies, and financing optimisations, alongside efforts to de-risk the assets over time.
The parties said the transaction reflects their approach to value creation during ownership and the ability to pursue an exit when conditions are favorable, returning capital to investors. Akin Gump Strauss Hauer & Feld LLP served as legal adviser to CVC DIF, Northleaf, and Landmark on the transaction.
KEY QUOTES
“We have successfully scaled the portfolio which now represents an attractive platform for future growth with these strategically located assets and a diversified, blue-chip customer base. This transaction is a strong example of CVC DIF’s ability to drive value creation during its investment ownership. It also highlights our ability to opportunistically exit an investment and continues our strong track record for our investors.”
Andrew Freeman, Partner And Head Of Divestments, CVC DIF
“We have driven significant value creation by growing Vault from a single facility into a scaled platform through a thoughtful consolidation strategy focused on individual data centers. Creating a platform diversified by customer, contracts and region is a prime example of Northleaf’s North American-focused, middle-market infrastructure strategy.”
Chris Rigobon, Managing Director And Head Of Digital Infrastructure, Northleaf
“We are pleased with the successful outcome of this transaction, resulting from collaboration over many years with our partners at Vault. This transaction exemplifies Landmark’s strong track record which has enabled us to build a leading position in the digital infrastructure sector, with over 70 Data Center assets under management for our investors and clients.”
Karlton Holston, Executive Vice President – Data Centers, Landmark
