Princeton Digital Group (PDG), an Asian data centre operator backed by PE firm Warburg Pincus, has appointed Goldman Sachs Group Inc to advise on a strategic review that could include the sale of a minority stake, according to a report by Bloomberg citing unnamed people familiar with the situation.
The process is still at an early stage, and no decisions have been taken on whether to bring in new equity partners or on the structure of any potential transaction, the sources said, noting that discussions remain private. Interest has already emerged from multiple investment firms and strategic players, they added.
Any deal would add to a growing pipeline of large transactions in Asia’s data infrastructure sector, which has seen heightened investor demand amid rapid expansion in artificial intelligence workloads and cloud computing.
PDG operates more than 20 data centres across China, Singapore, India, Indonesia, Malaysia, South Korea and Japan. The company was established in 2017 by Warburg Pincus alongside co-founders Rangu Salgame and Varoon Raghavan, and has expanded through a mix of organic growth and acquisitions.
The group has already attracted significant capital backing, including a $1.3bn investment from Stonepeak in 2025. Other shareholders include Mubadala Investment Company and the Ontario Teachers’ Pension Plan Board.
PDG is among a number of regional data centre platforms that have drawn strong investor interest in recent years. Recent comparable transactions include KKR-led acquisitions and consortium deals involving Blackstone and the Canada Pension Plan Investment Board, reflecting heightened competition for digital infrastructure assets.
Earlier this year, PDG also outlined plans to raise up to $5bn in debt financing to fund new capacity expansion and campus development, including $350m already secured from a group of global lenders.
Goldman Sachs, Warburg Pincus, Stonepeak, Mubadala, and OTPP all reportedly declined to comment.
