Private credit investment manager Eagle Point Credit Management has announced that it served as a lead investor in a new HoldCo loan to a subsidiary of Nexus Data Centers, completing the capital structure for the first phase of a multi-phase data center campus in Hubbard, Texas.
The loan amounts to roughly US$ 1.3 billion, according to Bloomberg, citing sources familiar with the matter. The loan forms part of the US$ 16 billion project finance package that Nexus Data Centers will use to complete construction of the 2,900-acre campus. According to an Eagle Point press release, the loan means Nexus has reached a Final Investment Decision (FID), signaling that the project has moved from speculation to a firm commitment now that it has the necessary financing in hand.
“We are proud to have played a leading role in the capital structure that enabled Nexus to reach FID in less than a year – a truly remarkable achievement. As demand for large-scale AI and hyperscale infrastructure capacity continues to accelerate, and ‘speed to market’ is a differentiating factor, our ability to provide flexible financing solutions throughout the capital stack reflects the breadth of our platform, and we look forward to continuing to support Nexus as it delivers critically needed compute for leading hyperscalers and large language models in the AI space,” said Jennifer Powers, Eagle Point Principal and Head of Infrastructure Credit.
In March 2026, Eagle Point provided the second of two senior secured credit financings to Nexus Apex Holdings, a Nexus Data Centers subsidiary. That credit supports the continued development of the campus.
Construction on Nexus’ first building at its Apex campus began in January 2026 and is scheduled to be completed in October 2027. In June 2026, the company began construction on a second building on the campus, set to be completed in January 2028.
The campus will have up to 600 MW of capacity with a behind-the-meter power supply and aims to support hyperscalers and Neoclouds. According to Bloomberg’s report, Anthropic is expected to be the anchor tenant at the campus.
“Eagle Point has been a key partner to Nexus at every stage of the project,” said Ivan Van der Walt, Chief Executive Officer of Nexus Data Centers. “Their nimble investment team and deep industry knowledge enabled us to complete our capital structure at a critical moment, and their continued support across four financings has been instrumental in reaching this milestone. We are grateful for their partnership and look forward to building on it as we scale our platform.”
While Texas is a big market for data centers, space is running out as ironic as it may seem. The biggest constraint is power and connection to the grid. This has left developers waiting in queues that are only going to get longer unless, like Nexus Data Centers, developers opt for behind-the-meter solutions