GI Partners closes fundraising on debut data infra fund at $1.8bn

GI Partners recently closed its debut digital infrastructure fund on about $1.8 billion, which includes a commitment from the GP, a source told Buyouts.

GI Data Infrastructure Fund targets investments in data centers, telecommunication towers and fiber wiring.

Park Hill Group worked as placement agent on the fundraising. A spokesman for GI Partners declined to comment.

Helping run the fund are Mark Prybutok, managing director of GI Data Infrastructure, who GI hired in 2019 from Alinda Capital, where he led that firm’s telecom infrastructure strategy. Former Equinix CEO Steve Smith, hired last year, also is leading the fund.

The fund had deployed 20 percent of its capital as of April, Buyouts reported at the time. That percentage has gone up after the fund, in June, took a majority stake in Blue Stream Fiber alongside the company’s CEO, Joe Canavan.

GI Data Infrastructure invested in DR Fortress LLC in partnership with the company management in January, GI said in a statement. The company is a data center operator in Hawaii.

GI Partners meanwhile is targeting $3.25 billion for its sixth flagship fund.