NEW YORK & LONDON--(BUSINESS WIRE)--
Ares Management Corporation (“Ares”) (NYSE: ARES) announced today that funds managed by its Infrastructure Debt strategy have committed a delayed draw sustainability-linked debt facility to EdgeConneX®, a leading global provider of full-range data center solutions.
The new debt facility provides for a commitment of up to approximately $1 billion and will be used to refinance existing indebtedness and to fund development and construction of EdgeConneX’s growing development pipeline. Further, the facility includes a sustainability-linked margin adjustment, whereby the interest rate payable is directly correlated to EdgeConneX achieving certain pre-determined sustainability targets. These targets will be aligned to EdgeConneX’s holistic ESG sustainability strategy: “Customer, People, and Planet.” EdgeConneX has a stated goal of becoming a carbon-, waste- and water-neutral data center provider by 2030 and developing and operating a data center platform powered by 100% renewable energy.
Founded in 2009 and backed by EQT, EdgeConneX operates high-powered, purpose-built digital infrastructure for customers, ranging from Hyperlocal Edge facilities to Hyperscale data center campuses. With over 50 data centers located in more than 40 markets across North America, Europe, South America and Asia, EdgeConneX delivers capacity, connectivity, power and proximity in a data center platform enabling cloud, content, network and technology service providers.
“We are pleased to strengthen our longstanding relationship with EdgeConneX and EQT through this significant financing that reinforces our shared commitment to corporate sustainability and responsible investment,” said Spencer Ivey, Partner in Ares’ Infrastructure Debt strategy. “We believe EdgeConneX is well-positioned to benefit from strong tailwinds for energy efficient, mission-critical data centers, and we are proud to work with an innovative and purpose-driven business that furthers Ares’ focus on supporting a just energy transition.”
“This is a pivotal time for EdgeConneX, and we are excited by the support of Ares as we seek to execute on our growth plans,” said Randy Brouckman, CEO of EdgeConneX. “This sustainability-linked financing underscores our deep commitment to provide innovative, energy efficient solutions in new and growing markets that generate sustainable value for our clients and stakeholders around the world.”
About Ares Management Corporation
Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, private equity, real estate and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2022, Ares Management Corporation's global platform had approximately $325 billion of assets under management, with over 2,100 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com. Follow Ares on Twitter @Ares_Management.
About EdgeConneX
Backed by EQT, a global investment organization, EdgeConneX provides a full range of sustainable data center solutions worldwide. We work closely with our customers to offer choices in location, scale and type of facility, from Hyperlocal to Hyperscale. EdgeConneX is a global leader in anytime, anywhere, and any scale data center services for a diverse portfolio of industries, including Content, Cloud, Networks, Gaming, Automotive, SaaS, IoT, HPC, Security, and more. With a mission predicated on taking care of our customers, our people, and our planet, EdgeConneX strives to Empower Your Edge. For more information, please visit edgeconnex.com.
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Ares Management
Brittany Cash, 212-301-0347
or
Jacob Silber, 212-301-0376
[email protected]
EdgeConneX
JSA, 1-866-695-3629 ext. 13
[email protected]
Source: Ares Management Corporation
