Ares Management Provides Sustainable Development Debt Financing Facility to EdgeConneX

Highlights Aug.26,2022 13:08

Ares Management Corporation (NYSE: ARES) announced on June 21 that its strategically managed fund of infrastructure debt has committed to provide EdgeConneX®, the world's leading provider of comprehensive data center solutions, with delayed drawdown Sustainability related debt instruments.

The new debt financing provides commitments of up to approximately $1 billion, which will be used to refinance existing debt and fund the development and construction of EdgeConneX's growing development pipeline. In addition, the tool includes a sustainability-related margin adjustment, where the interest rate payable is directly related to EdgeConneX achieving certain predetermined sustainability goals. These goals will be aligned with EdgeConneX's overall ESG sustainability strategy: "Customers, People and Planet". EdgeConneX's stated goal is to be a carbon, waste and water neutral data center provider by 2030, and to develop and operate a data center platform powered by 100% renewable energy.

Founded in 2009 and supported by EQT, EdgeConneX operates high-performance, purpose-built digital infrastructure for customers ranging from hyper-local edge facilities to hyperscale data center campuses. With more than 50 data centers in more than 40 markets in North America, Europe, South America and Asia, EdgeConneX provides capacity, connectivity, power and proximity in a data center platform that supports cloud, content, networking and technology service providers.

"We are delighted to strengthen our long-term relationship with EdgeConneX and EQT with this significant financing, which reinforces our shared commitment to corporate sustainability and responsible investing," said Spencer, Partner, Infrastructure Debt Strategy, Ares Asset Management Ivey said. "We believe EdgeConneX is well-positioned to benefit from a strong tailwind for energy-efficient, mission-critical data centers, and we're proud to partner with an innovative and purpose-driven enterprise to further advance its focus on supporting a just energy transition."

Randy Brouckman, CEO of EdgeConneX, said: "This is a pivotal time for EdgeConneX and we are excited about Ares Asset Management's support as we seek to execute on our growth plans." The associated financing underscores our strong commitment to delivering innovative, energy-efficient solutions in emerging and growing markets, creating sustainable value for our customers and stakeholders around the world. "

About Ares Asset Management

Ares Asset Management is a leading global alternative investment management firm providing clients with complementary primary and secondary market investment solutions across credit, private equity, real estate and infrastructure asset classes. Ares seeks to provide flexible capital to support businesses and create value for Ares' investors and Ares' communities. By working with Ares' investment team, we aim to generate stable and attractive investment returns throughout the market cycle. Ares Asset Management's global platform managed approximately $325 billion in assets as of March 31, 2022, with more than 2,100 employees in North America, Europe, Asia Pacific and the Middle East.