US private equity firm Bain Capital is holding early talks with advisers on options, including a stake sale to new investors, to raise cash to expand Singapore-based Bridge Data Centres (BDC), according to Bloomberg citing people familiar with the matter. Other options it is considering include setting up a continuation fund, a move that would enable Bain to retain a share in the business while bringing in new backers to spur growth. New backers may include infrastructure-focused funds as well as other data centre operators and sovereign wealth funds.
If a transaction takes place, BDC could be valued at several billion dollars, the people said, adding however, that talks are still at a preliminary stage and Bain might not pursue a deal.
The representative for Bain declined to comment, while BDC did not respond to a request for comment, said Bloomberg.
Bain had invested in BDC in 2017. BDC’s data center footprint include Malaysia, Thailand and India.
Bain had in September agreed to sell its data centers in China in a deal worth about US$4 billion. The discussions on BDC occurred following the China sale.
Singapore-based DayOne Data Centers Ltd is another Singapore-based data center developer which is in advanced talks to raise more than US$2 billion to support its international expansion.