Funds managed by KKR and Singapore's Singtel agreed on 4 February to buy the remaining 82% of ST Telemedia Global Data Centres from ST Telemedia for S$6.6bn, valuing the data centre operator at about S$13.8bn including debt and committed capital spending.
Why KKR and Singtel is buying ST Telemedia Global Data Centres (STT GDC)
KKR said digital infrastructure remained one of the most compelling long-term investment themes as cloud and AI workloads grow. Singtel said the purchase scales a new growth engine under its Singtel28 plan and broadens its data centre footprint beyond its Nxera business.
Deal terms and financing
The consortium first invested S$1.75bn in STT GDC through preference shares and warrants in 2024. On completion, after conversion of those instruments, KKR holds 75% and Singtel 25%.
Regulatory approvals and timing
Completion was expected by early in the second half of 2026, subject to regulatory approvals. STT GDC announced on 2 September 2026 that the consortium had completed the acquisition and launched a refreshed STTGDC brand.
Market context
Founded by ST Telemedia in 2014 and headquartered in Singapore, STT GDC has 2.3GW of design capacity across 12 markets, including the UK and Europe through VIRTUS, and its pipeline has grown from 1.4GW in 2024 to more than 1.7GW.
