KKR and Singtel to acquire remaining stake in data center firm STT GDC for over $5 billion

Core Insights - KKR and Singapore Telecommunications are acquiring the remaining 82% stake in ST Telemedia Global Data Centres for S$6.6 billion ($5.1 billion), valuing the enterprise at S$13.8 billion, amid rising demand for data centers driven by artificial intelligence [1][2] - Post-acquisition, KKR will hold a 75% stake in STT GDC, while Singtel will retain 25%, marking KKR's largest infrastructure investment in Asia Pacific [2] - The global data center market saw over $61 billion in investments last year, reflecting a growing need for infrastructure to support AI workloads [3] Company Insights - STT GDC, founded in 2014 and headquartered in Singapore, operates data centers across 12 markets in Asia Pacific, the UK, and Europe, with a design capacity of 2.3 gigawatts [5] - The company provides colocation, connectivity, and support services to hyperscalers and enterprise customers, enhancing Singtel's position in the global data center market [5] - KKR's investment is seen as a strategic move to capitalize on the long-term growth potential of digital infrastructure, as highlighted by KKR's co-head of Asia Pacific [4]