Saudi Arabia’s Public Investment Fund (PIF) is to be an investor in a new partnership managed by DigitalBridge Group, a global asset manager dedicated to investing in the next generation of mobile and internet connectivity. The partners aim to develop data centres in Saudi Arabia and across the Gulf Cooperation Council (GCC) countries.
The partnership will initially prioritise investments in the data centre sector and is expected to explore other segments of digital infrastructure in the future, including macro towers, fibre, small cells, and edge infrastructure. Partnering with DigitalBridge will, the partners say, support the enhancement of digital infrastructure in Saudi Arabia to the highest global standards, in line with PIF's strategy.
The investment aims to localise cutting-edge technologies and support knowledge transfer to develop and operate hyperscale data centres and database servers in Saudi Arabia and the GCC region, in accordance with the best practices in this sector, which will help large local and international corporations to carry out their business in the region with greater efficiency.
The PIF has a leading role in advancing Saudi Arabia's economic transformation and diversification, as well as contributing to shaping the future of the global economy. Since 2017, the PIF has established 72 companies and created, directly and indirectly, more than 500,000 jobs as at the end of 2021.
The PIF is building a diversified portfolio by entering into attractive and long-term investment opportunities in 13 strategic sectors in Saudi Arabia and globally.
DigitalBridge has over 25 years investing in and operating businesses across the digital ecosystem, including cell towers, data centres, fibre, small cells and edge infrastructure.
