Global investment firm KKR and Singtel announced today they have signed definitive agreements to acquire the remaining 82 per cent in ST Telemedia Global Data Centres (STT GDC), a data centre colocation services provider, from founding shareholder ST Telemedia for S$6.6 billion (US$ 5.1 billion). This would value the company at about S$13.8 billion (US$ 10.9 billion), including leverage and capital expenditure for committed projects. This marks one of the largest digital infrastructure transactions in Southeast Asia.
Upon completion, expected by early second half of 2026, KKR and Singtel will own stakes of 75 per cent and 25 per cent respectively in STT GDC, according to a joint press release by the companies.
w.media first reported on the potential deal on 2nd February where sovereign wealth funds GIC and Mubadala Investment were said to be in talks to join KKR and Singtel in the deal, as reported by Singapore Business Times quoting sources familiar with the matter.
In 2024, KKR and Singtel invested S$1.75 billion (US$1.3 billion) in Singapore-headquartered STT GDC through preference shares and warrants. Since then, STT GDC’s pipeline has expanded from 1.4GW in 2024 to over 1.7GW.
STT GDC was established in 2014 by ST Telemedia and has expanded across 12 major markets in Asia Pacific and Europe with 2.3GW of design capacity.
David Luboff, Co-Head of KKR Asia Pacific and Head of Asia Pacific Infrastructure at KKR, said, “Digital infrastructure remains one of the most compelling long-term investment themes globally as cloud computing and data-rich applications continue to reshape how data is created, stored, and processed. STT GDC is well-positioned within this landscape, with a diversified footprint, strong development pipeline and a leadership team with a clear vision for global scale. This transaction represents a rare opportunity to further support a high-quality platform and deepen our strategic partnership with Singtel. We look forward to deploying KKR’s global network and deep digital infrastructure expertise to help STT GDC accelerate its next phase of sustainable, international growth.”
Arthur Lang, Group Chief Financial Officer of Singtel, said: “This acquisition is a significant step towards scaling our new growth engine in digital infrastructure as mapped out in our Singtel28 growth plan. STT GDC’s diverse geographical footprint increases our exposure to new markets and makes the Singtel Group a stronger data centre player with global reach.”
Stephen Miller, President & Group CEO of ST Telemedia, said, “ST Telemedia established STT GDC 12 years ago to pioneer one of Asia Pacific’s leading data centre platforms, combined with an equally strong position in the United Kingdom and Europe through VIRTUS. As the data centre sector has fundamentally shifted, its exponential trajectory now requires a different scale of capital and specialised focus for STT GDC’s next exciting phase of continued growth.”
Bruno Lopez, President & Group CEO of STT GDC, said: “This expanded investment from KKR and Singtel underscores their confidence in the quality of STT GDC’s business and its growth trajectory and will further accelerate our mission to deliver the critical infrastructure powering tomorrow’s digital economy.”
KKR’s past investments in Asia Pacific have included: Nxera, a Singapore-headquartered data centre platform; Pinnacle Towers, a digital infrastructure platform in Asia with a focus on the Philippines; and OMS Group, a neutral subsea telecommunications cable services provider. KKR’s Asia Pacific infrastructure platform has grown to approximately US$16 billion (S$20 billion) in assets under management since it was established in 2019, as of September 30, 2025.
Singtel Group is a leading provider of connectivity, digital services and digital infrastructure, with data centres a critical part of the business.