Ares Management Corporation, a global alternative investment manager headquartered in Los Angeles and listed on the New York Stock Exchange, has arranged a US$2.4 billion debt facility for Vantage Data Centers, a provider of hyperscale data centre campuses. 

Ares holds approximately US$1.6 billion of the commitment and funded approximately US$330 million at closing. The new debt facility will be used to refinance existing indebtedness and support the development, construction, and operation of data centres across Vantage’s North America portfolio. 

The Vantage portfolio is one of the largest and most diversified data centre platforms in North America, with 17 campuses totalling 4 gigawatts of IT load capacity, supporting cloud and AI technologies across key markets. These assets are 100% leased under long-term agreements with leading hyperscale customers. Approximately 99% of Vantage’s customers in North America hold an investment-grade rating. 

“Ares is proud to build on our existing relationship with Vantage and support its innovative projects across key markets in North America,” says Brent Canada, partner, infrastructure debt, at Ares. “With the accelerating demand for cloud and AI technologies and the corresponding need for flexible, scalable capital, we believe Ares is well-positioned as an experienced lender to provide financing solutions for quality digital infrastructure. We look forward to working with Vantage in this next phase of its strategic growth to the benefit of its hyperscale customers and local communities.”

Rich Cosgray, senior vice president, global capital markets, at Vantage Data Centers, adds: “Ares brings scaled capital, deep sector expertise, and confidence in our strategic vision, and we are excited to expand our global collaboration as we accelerate the delivery of critical infrastructure for our customers.” 

Vantage is building five new data centres on its 50-acre campus in Phoenix, Arizona. It also has data centres in London, Frankfurt, and Warsaw. In the Asia-Pacific region, its footprint covers Japan, Hong Kong, and Malaysia.

Ares has approximately US$623 billion in assets under management across credit, real estate, private equity, and infrastructure. The global platform has operations across North America, South America, Europe, Asia-Pacific, and the Middle East.