KKR-Led Consortium Signs S$1.75 Billion Investment Deal With STT GDC

A consortium led by KKR, which includes Singtel, signed definitive agreements on June 18, 2024 to invest in ST Telemedia Global Data Centres (STT GDC). The transaction marks a substantial capital injection into one of the region’s largest data centre operators.

The initial investment from the consortium is structured as S$1.75 billion through redeemable preference shares with detachable warrants. If the warrants are fully exercised, the consortium would provide an additional S$1.24 billion, bringing the total possible investment to S$2.99 billion, according to company statements and financial reports.

STT GDC operates a network of over 95 data centres across 11 geographies, with a combined IT load capacity exceeding 1.7 gigawatts. Following the completion of this investment, ST Telemedia is set to retain its position as the majority shareholder in the company.

The closing of the transaction is subject to the satisfaction of certain conditions precedent, including obtaining regulatory approvals. These requirements must be fulfilled before the investment is finalized and the funds are fully deployed.

What the numbers show

• Initial investment: S$1.75 billion (approx. US$1.3 billion
• Additional investment if warrants exercised: S$1.24 billion (approx. US$920 million
• Total potential investment: S$2.99 billion (approx. US$2.21 billion
• STT GDC operates more than 95 data centres in 11 locations
• Combined IT load capacity exceeds 1.7 GW

In late 2025, KKR and Singtel were reported to be in advanced discussions to acquire over 80% of STT GDC for more than S$5 billion, which would result in full ownership of the company. These developments were documented by financial news agencies and reflect ongoing interest in the data centre sector.

Bloomberg reported in July 2025 that KKR was engaged in talks to purchase STT GDC in a transaction valuing the company at over US$5 billion. Further reports in November 2025 indicated that the consortium was seeking a S$5 billion loan to support the proposed acquisition.

The investment agreement and subsequent acquisition talks highlight the continued activity in the data centre industry. The involvement of major institutional investors and the scale of the transaction underscore the sector’s role in supporting digital infrastructure across multiple regions.

* This article is based on publicly available information at the time of writing.