Singapore-based real estate-focused private investment manager SC Capital Partners has entered discussions to acquire UK data centre operator Global Switch in a deal valued at between $4bn and $5bn, according to a report by Reuters.
The report cites unnamed sources familiar with the matter as revealing that SC Capital, which is backed by CapitaLand Investment, is working with advisers on a possible transaction. The London-headquartered data centre firm is currently majority-owned by China’s Jiangsu Shagang Group.
Talks remain at a preliminary stage and are subject to market conditions, the sources said, noting that a deal is not guaranteed. At present, SC Capital is understood to be the sole bidder in active pursuit of the company.
The potential acquisition comes amid a broader wave of capital flowing into data infrastructure, with investors increasingly drawn to the sector’s defensive characteristics and structural growth tailwinds from artificial intelligence, cloud computing, and enterprise digitalisation.
Founded in 2004, SC Capital manages around $6bn in assets across strategies including opportunistic real estate, core-plus, and infrastructure, serving over 60 institutional investors globally. In November 2024, CapitaLand Investment acquired a 40% stake in the firm for SGD280m ($208m), with options to take full control over the next five years.
Global Switch, which owns and operates carrier-neutral data centres across Europe and Asia-Pacific, has been in and out of the market since 2022, when shareholders first signalled a willingness to explore a sale. Prior negotiations with Sweden’s EQT in 2023 fell through, with final bids said to have valued the business around $8bn including debt.
Earlier this year, Australia’s HMC Capital acquired Global Switch’s local operations for AUD1.94bn, following data security-related divestment pressures from the Australian government.
