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Founder and Editor, The Tech Capital
October 14, 2021 | 4:00 AM BST
Private equity vehicle IPI Partners’ data centre brand Stack Infrastructure has entered the Asia Pacific region for the first time, further highlighting an ongoing market movement of American operators debuting operations on new continents.
The move into APAC has begun with the opening of Stack’s Singapore regional headquarters.
The company said it intends to initially target Tokyo and Osaka for data centre expansions, with plans to enter Singapore, Hong Kong, South Korea, Australia, and other Asia Pacific markets shortly thereafter, “through a combination of acquisitions and organic development in partnership with landowners and real estate platforms”.
Brian Cox, Chief Executive Officer of Stack, said: “The launch of Stack Asia Pacific represents an exciting milestone in the evolution of our company. We are committed to building out international markets that are strategic to our customers, and our expansion to Asia Pacific is a natural next step in offering flexible critical infrastructure solutions that meet and support their complex and evolving requirements.”
In connection with the expansion, IPI and Stack have also unveiled that Pithambar (Preet) Gona has joined the business as Chief Executive Officer, Asia Pacific to lead the execution of the company’s growth strategy in the region.
Gona has previously served as the President, Chief Financial Officer, and Chief Investment Officer of Bridge Data Centres, which merged with ChinData Holdings.
Prior to Bridge Data Centres, he was a Managing Director at Blackstone where he was responsible for the firm’s private equity operations in Southeast Asia.
Tom Duncan has also recently joined Stack Asia Pacific and will lead business development. He was previously an Executive Director at CBRE where he implemented data centre technology solutions in Asia Pacific, developing site selection expertise and customer relationships over his 13-year tenure.
The executive team will be based in Singapore with local development professionals already hired in key target markets, the company said in a statement.
APAC CEO Gona said: “Stack has proven itself as a trusted partner to hyperscale and enterprise customers through its innovative technical solutions and commercial models. I am excited by the opportunity to leverage Stack’s tremendous success in North America, which we look to replicate in the Asia Pacific region.
“Our focus is on building a world class team by being an employer of choice in the industry and assisting our customers in navigating the unique development and operating challenges in the region.”
Stack is sponsored by IPI Partners, a global investment platform based in Chicago, Illinois, with more than US$5.25 billion in total equity commitments specializing in acquiring, developing, leasing, and operating critical digital infrastructure assets to serve the needs of large, high-quality technology companies globally.
Matt A’Hearn, Partner at IPI, commented: “We have a great opportunity to further build on Stack’s success with this expansion and we are confident that Stack’s industry-leading platform, together with Preet’s leadership and experience in the region is a winning combination.
“IPI is committed to investing in Asia Pacific and to addressing our customers’ growing need for digital infrastructure around the world.”
The news of Stack’s launch in APAC come just hours after the company brought online its latest data centre facility in Silicon Valley (SVY02), adding 32MW of capacity to its North American portfolio.
Stack currently operates in the US and Canada with a portfolio of 21 facilities in Toronto, Atlanta, Chicago, Dallas-Fort Worth, New Albany, Northern Virginia, Phoenix, Portland, and Silicon Valley.
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