(Reuters) – Stonepeak said on Tuesday it is buying private credit investment manager Boundary Street Capital, as it seeks to capitalize on opportunities in the artificial intelligence and digital infrastructure space.
WHY IT’S IMPORTANT
The deal reflects the growing appeal of digital infrastructure assets as businesses’ shift to online operations and the adoption of AI drive up demand for data centers.
CONTEXT
Boundary Street has more than $700 million of capital commitments. It has made 31 total investments, according to its website.
The financial terms of the deal were not disclosed, but Stonepeak said it is expected to close in the current quarter.
KEY QUOTES
“We continue to see compelling investment opportunities within the credit space, especially as it relates to digital infrastructure,” said Jack Howell, co-president of Stonepeak.
“…we will have the ability to broaden our investment aperture and execute more efficiently on the opportunities we’re seeing in AI-driven businesses,” said Michael Leitner, senior managing director at Stonepeak.
(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
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