DigitalBridge and La Caisse (formerly CDPQ) have announced the successful completion of the acquisition of Yondr Group, a global developer, owner, and operator of hyperscale data centers, from Cathexis Holdings. This investment furthers DigitalBridge and La Caisse’s history of partnership in digital infrastructure investing, positioning Yondr to accelerate its expansion in strategic markets and attempt to meet the surging demand for hyperscale and AI-driven data centres. La Caisse is investing alongside DigitalBridge-managed investment vehicles and has assumed joint control of Yondr.
In connection with the completion of the acquisition, Aaron Wangenheim has been appointed as Chief Executive Officer, and Sandip Mahajan as Chief Financial Officer, effective immediately.
Yondr develops and operates data centres to address data centre capacity demands of large technology companies. The operator has more than 420MW of capacity committed to hyperscalers and additional land to support a total potential capacity of over 1GW. The company believes it is well-positioned to capitalise on the growing demand for advanced data processing capabilities driven by ongoing digital transformation, the expansion of cloud solutions, and the rise of AI.
“We’re thrilled to finalise our acquisition of Yondr alongside La Caisse,” announces Jon Mauck, Senior Managing Director and Head of Data Centers at DigitalBridge. “With a diverse global portfolio of campuses, Yondr further strengthens DigitalBridge’s world-class data centre portfolio and reinforces our focus on being a global partner to the leading hyperscale, technology, and AI companies that are driving the digital economy. We look forward to working alongside Aaron and Sandip, who bring extensive leadership experience, as we support Yondr’s strategy of developing and operating scaled capacity to meet the demands of AI and cloud computing. We are also very pleased to partner again with La Caisse, who shares our partnership-orientated approach to long-term value creation.”
“Over the past few years, we have explored various direct investment opportunities in the data centre space and Yondr has stood out as a compelling platform to capitalise on the growth of the sector. At the end of 2024, we joined forces with DigitalBridge – a trusted partner – to invest in Yondr’s next development phase under renewed leadership and ownership,” adds Emmanuel Jaclot, Executive Vice President and Head of Infrastructure at La Caisse. “This investment reflects our conviction in the value of digital infrastructure and our confidence in Yondr’s ability to scale with agility, innovate, and deliver AI-ready data solutions at pace.”
DigitalBridge and La Caisse have a longstanding track record of partnership in the digital infrastructure sector. In 2019, La Caisse acquired a 30% stake in Vertical Bridge, a private owner and operator of communications infrastructure in the United States and a DigitalBridge portfolio company. In 2024, DigitalBridge and La Caisse supported Vertical Bridge’s $3.3 billion (£2.4 billion) tower transaction with Verizon.
“I am proud to have supported Yondr on its journey since its formation in 2018. Yondr has become a vital infrastructure partner to many of the world’s largest technology companies, and I believe DigitalBridge and La Caisse are the right partners to support Yondr through its next stage of growth. I look forward to seeing what the business will achieve,” says William Harrison, CEO of Cathexis.
Aaron, who joins Yondr as Chief Executive Officer, brings over two decades of data centre leadership and extensive experience overseeing the development and operations of data centre campuses around the world. He spent over a decade at T5 Data Centers in roles of increasing responsibility, including eight years as Chief Operating Officer. Most recently, he served as an advisor and developer of customised data centre solutions, where he worked with numerous investors evaluating both the property and operating aspects of the evolving data centre industry.
Sandip, who joins Yondr as Chief Financial Officer, brings over three decades of financial leadership and infrastructure investment experience, including expertise in leveraged finance, equity and debt raising, and financial transformation. He has served as Chief Financial Officer at Mitie Group, a publicly-listed, UK-based support services business, and was earlier at Balfour Beatty, a publicly-listed construction services business in a number of roles, including as a project finance leader specialising in infrastructure equity investments.
“Yondr has an impressive track record as a leading developer, owner, and operator of hyperscale data centres, and I’m excited to be joining the company as Chief Executive Officer at such a pivotal time for the business and the industry,” comments Aaron. “I look forward to leading Yondr through its next phase of growth with the backing of two world-class investors that appreciate the critical role we play in supporting our clients.”
Aaron succeeds Paul Cossell, who is retiring from the Chief Executive Officer role after two and a half years at Yondr and a nearly three-decade career in the construction and infrastructure industry. Sandip succeeds Chester Reid, who is stepping down from the Chief Financial Officer role after more than two years at Yondr to pursue other business interests.
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