GIC-Backed Data Ctr. Vehicle Launches

A rendering of a future EdgeCore data center property. Construction on the vehicle’s first project is scheduled to begin in the first quarter.

DENVER—With the goal of developing large-scale campuses across North America, EdgeCore Internet Real Estate LLC has thrown its hat into the data center ring. Led by industry veteran Tom Ray and with key backing by GIC Pte. Ltd., the sovereign wealth fund of Singapore, EdgeCore initially will be capitalized with more than $800 million of equity to support about $2 billion of data center development and investment.

The new vehicle is a partnership of Mount Elbert Capital Partners, Canadian pension fund manager OPTrust and GIC. Its initial roll-out will include campus development across six markets, starting with construction on a 225-megawatt facility in Mesa, AZ that is scheduled to begin this quarter and be substantially complete by the fourth quarter.