Ares Management Corporation announced that certain of its funds (“Ares”) have arranged a $2.4 billion debt facility to Vantage Data Centers, a leading global provider of hyperscale data center campuses. Ares holds approximately $1.6 billion of the commitment and funded approximately $330 million at closing. 

The new debt facility will be used to refinance existing indebtedness and support the development, construction and operation of data centers across Vantage’s North America portfolio. The Vantage portfolio is one of the largest and most diversified data center platforms in North America with 17 campuses reflecting a combined 4 GW+ of IT load capacity, supporting primarily cloud as well as AI technologies across key markets. Vantage’s diversified and stabilized portfolio of assets is 100% leased under long-term agreements with leading hyperscale customers. Approximately 99% of Vantage’s customers in North America hold an investment grade rating. 

“Ares is proud to build on our existing relationship with Vantage and support its innovative projects across key markets in North America,” said Brent Canada, Partner in Ares Infrastructure Debt. “With the accelerating demand for cloud and AI technologies and the corresponding need for flexible, scalable capital, we believe Ares is well-positioned as an experienced lender to provide financing solutions for quality digital infrastructure. We look forward to working with Vantage in this next phase of its strategic growth to the benefit of its hyperscale customers and local communities.”

“We appreciate Ares’ support as we continue to reinforce Vantage’s leadership in the development of global, large-scale digital infrastructure,” said Rich Cosgray, Senior Vice President, Global Capital Markets, Vantage Data Centers. “Ares brings scaled capital, deep sector expertise and confidence in our strategic vision, and we are excited to expand our global collaboration as we accelerate the delivery of critical infrastructure for our customers.”