Principal Financial seeks $3 billion for two data centre funds
Updated
Updated · Bloomberg · May 8
Principal Financial seeks $3 billion for two data centre funds
13 articles · Updated · Bloomberg · May 8
Its asset management unit plans about $2 billion for a US-focused fund and roughly $1 billion for Europe, according to people familiar with the matter.
Both private real estate equity funds target annual net internal returns of 18% to 20% over eight years, with extension terms.
The fundraising reflects strong investor demand for US and European data centres as AI expansion drives appetite for digital infrastructure assets.
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