Princeton Digital Group (PDG) yesterday announced the signing of a definitive agreement with Stonepeak in which the investment firm will make a preferred equity investment of USD 1.3 billion in PDG to support its continued expansion across Asia Pacific. Princeton is one of Asia Pacific’s leading data center operators and hyperscale AI-ready data center providers while Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets.
This investment follows PDG’s recently announced USD 1.2 billion debt financing. Together, Stonepeak’s investment and the recent debt financing bring the total capital raised by PDG in 2025 to USD 2.5 billion across equity and debt, positioning itself to accelerate scale by organic growth and mergers and acquisitions.
With a current portfolio of over 1.1 gigawatts across six countries, PDG is one of the region’s largest and fastest-growing data center platforms. With top global investors—Warburg Pincus, Ontario Teachers’ Pension Plan, Mubadala, and now Stonepeak—PDG is uniquely positioned with long-term backing from some of the world’s most respected capital partners.
Stonepeak’s long-term capital will support the company’s next phase of growth, including both greenfield development and M&A, across both established and emerging Asia Pacific markets. Warburg Pincus will continue to be PDG’s largest shareholder.
“This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation,” said Rangu Salgame, Chairman, CEO and Co- founder of PDG. “Stonepeak shares our deep conviction in the unprecedented growth of AI and cloud across Asia Pacific. With this partnership, PDG is uniquely positioned to scale with speed, continue being the trusted provider to the world’s most demanding hyperscalers, and further consolidate its position as a market leader in the region.”
“PDG has established itself as one of the clear leaders among digital infrastructure platforms in the Asia Pacific region. The company’s track record of execution, top-tier management team, and significant power bank in critical hub markets in APAC positions it well to serve the continued demand from hyperscalers and AI-driven platforms in the region,” said Andrew Thomas, Senior Managing Director at Stonepeak. “This investment is a quality fit for our Asia infrastructure strategy, and we look forward to partnering with PDG’s management team, Warburg Pincus and existing shareholders to propel the company’s next phase of growth.”
Ellen Ng, Co-Head of Asia Real Estate at Warburg Pincus, said, “As a founding investor of PDG, we’ve always believed in the founders’ vision and exceptional execution capabilities and supported the company’s evolution into Asia’s preeminent data center platform. This latest investment by Stonepeak is a strong validation of PDG’s market leadership and long-term strategy. As PDG’s largest shareholder, we are excited to welcome a like-minded partner to help propel the company into its next phase of growth, supporting the surging demand for AI and cloud infrastructure across the region.”
PDG is being advised by Goldman Sachs, J.P. Morgan, and Latham & Watkins as legal counsel. Barclays is serving as financial advisor and Sidley Austin LLP is serving as legal counsel to Stonepeak.