Singapore’s PDG Lands $1.3B from Stonepeak to Scale Data Center Growth

Singapore-based data center firm Princeton Digital Group (PDG) has raised $1.3 billion in preferred equity from Stonepeak, a New York-headquartered investment company specializing in real assets and infrastructure. Announced last Friday, the funding will fuel PDG’s growth strategy across key Asia Pacific markets.

The deal marks one of the largest data center investments in the Asia Pacific this year. It brings PDG’s total funding in 2025 to $2.5 billion, including $1.2 billion in debt financing announced earlier in May. The company, backed by Warburg Pincus, operates a data center platform exceeding 1 gigawatt across the APAC region.

The capital will support PDG’s next phase of growth, which includes building new data centers and pursuing acquisitions across both mature and emerging markets in the region. Stonepeak joins an investor group that already includes Warburg Pincus, Ontario Teachers’ Pension Plan, and Abu Dhabi’s Mubadala. Warburg Pincus will remain the company’s largest shareholder.

Founded in 2017, PDG operates over 20 data center facilities across six countries — Singapore, Japan, India, Indonesia, China, and Malaysia — with a combined capacity exceeding 1.1 gigawatts. Its expansion has been driven by rising demand for cloud services and artificial intelligence infrastructure in Asia.

“This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation,” said Rangu Salgame, Chairman and CEO 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.”

Stonepeak, which manages $73 billion in assets globally, said PDG’s performance, leadership team, and strong presence in key APAC markets made the company a strategic fit for its infrastructure portfolio. The firm already has data center investments in the region, including a stake in Digital Edge, another Singapore-based platform.

Andrew Thomas, Senior Managing Director at Stonepeak, said PDG is well-positioned to meet the surging infrastructure needs of AI-driven platforms and cloud providers. “We look forward to working alongside PDG’s leadership and existing shareholders to fuel the company’s continued growth,” he said.

Warburg Pincus, an early backer of PDG, described the new investment as validation of the company’s leadership and long-term direction. “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.”

Advisors on the deal include Goldman Sachs and J.P. Morgan for PDG, with legal support from Latham & Watkins. Stonepeak was advised by Barclays and represented legally by Sidley Austin LLP.

Image credits: PDG