The United Arab Emirates (UAE) has ambitious plans to become a global player in cloud and data center industry. This has fuelled several strategic investments by its sovereign wealth fund into the industry, the most recent being acquiring stake in an American digital infrastructure company. The Abu Dhabi Investment Authority (ADIA) has acquired a 40 per cent stake in Landmark Dividend LLC which is a subsidiary of DigitalBridge.
Established in 1976, the ADIA is a globally diversified investment institution that prudently invests funds on behalf of the Government of Abu Dhabi through a strategy focused on long-term value creation. DigitalBridge is a global alternative asset manager dedicated to investing in digital infrastructure. Landmark Dividend is an acquirer and developer of real estate and infrastructure focused on the wireless communication, digital infrastructure, outdoor advertising, and renewable power industries. At present it has data centers in New York, Washington DC, Dallas, Chicago, Baltimore, Seattle, Detroit and other locations across the United States.
Khadem AlRemeithi, Executive Director of the Infrastructure Department at ADIA, said, “Under DigitalBridge’s ownership, Landmark has solidified its position as one of the preeminent acquirers of digital infrastructure real estate assets globally. The company has already built a portfolio of high-quality real assets, and our investment aims to support Landmark’s next phase of growth.”
Steven Sonnenstein, Senior Managing Director at DigitalBridge and Chairman of the Board at Landmark, said, “ADIA’s investment in Landmark is testament to the company’s long-term potential and attractive position in the market, and we are delighted to partner with ADIA to further fuel Landmark’s growth. We are proud of the reputation Landmark has built for excellence in infrastructure and real estate investment, and we look forward to creating more opportunities for Landmark’s clients and stakeholders.”
Tim Brazy, Chief Executive Officer at Landmark Dividend, said, “We welcome ADIA to Landmark. This investment marks an exciting new phase of growth for our business. With the support of our new stakeholder, alongside DigitalBridge, we are well-prepared to strengthen our position and offer our clients a broader spectrum of top-tier investment solutions.”
The transaction will require regulatory approvals and is expected to close in the first half of 2024. The deal will not only give Landmark the funds to expand its footprint, but also help establish UAE as a major global investor in the cloud and data center industry.
