CVC DIF, Northleaf JV Sells Vault Data Center Portfolio to Igneo

CVC DIF, the infrastructure strategy of global private markets manager CVC, and Northleaf Capital Partners announced that Vault Digital Infrastructure has sold its data center portfolio to Igneo Infrastructure Partners, the direct infrastructure business of First Sentier Investors.  

Vault is a joint venture owned by CVC DIF (49%), Northleaf (49%) and Landmark Dividend (2%). The portfolio includes seven operational co-location and enterprise data centers in key U.S. markets with 75MW of critical capacity. 

CVC DIF, through its CIF I fund, Northleaf, via its mid-market infrastructure funds, and Landmark established Vault in 2018 to invest in operational data centers. Since then, Vault has assembled what the partners describe as an attractive, resilient portfolio that is mission critical to its tenant base, while executing value-enhancing initiatives such as lease extensions, facility expansions, new tenancies and financing optimizations. 

“We have successfully scaled the portfolio which now represents an attractive platform for future growth with these strategically located assets and a diversified, blue-chip customer base,” said Andrew Freeman, partner and head of divestments at CVC DIF. 

“We have driven significant value creation by growing Vault from a single facility into a scaled platform through a thoughtful consolidation strategy focused on individual data centers,” added Chris Rigobon, managing director and head of digital infrastructure at Northleaf. 

Founded in 2005 and headquartered in Amsterdam, CVC DIF manages approximately €19 billion of infrastructure assets across energy transition, transport, utilities and digitalization. CVC DIF, Northleaf and Landmark were advised on the transaction by Akin Gump Strauss Hauer & Feld LLP.