NEW YORK CITY-Sentinel Data Centers and private equity firm Kelso & Co. announced a partnership Monday, in which Kelso will invest alongside Sentinel’s founders. The partnership will provide the entity with up to $300 million of aggregate equity capital for expansion, according to a release; both firms are headquartered here.
Sentinel’s co-founder and co-president, Todd Aaron, says in a release that the partnership with Kelso will enable his firm “to continue to grow at a measured pace with an emphasis on quality over quantity.” He adds that the firm’s specialty remains “facility solutions tailored specifically to the reliability, efficiency, flexibility and reporting requirements of the large, quality-sensitive enterprise.”
Kelso VP Hank Mannix says in a release that his company believes that “large-footprint data center users will increasingly appreciate the value proposition of multi-tenant data centers,” allowing companies such as Sentinel to gain share. Mannix says Sentinel’s 10-year track record “ideally positions them for continued growth.”
In other news, Sentinel has closed on a $90-million loan from M&T Bank for its NJ-1, a 330,000-square-foot data center being built in Somerset, NJ in partnership with Carlstadt, NJ-based Russo Development. The loan transaction coincides with Sentinel’s completion of the project’s first phase, measuring 140,000 square feet.
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