Stonepeak Invests $1.3 Billion In Warburg Pincus-Backed Data Center Operator Princeton Digital
Forbes Staff. I write about Asia’s richest, fast-growing businesses, and startups.Follow Author
Jul 18, 2025, 01:09am EDTJul 18, 2025, 01:14am EDTShareSave
Princeton Digital Group (PDG)—a Singapore-based data center operator backed by U.S. private equity firm Warburg Pincus—said Thursday it has agreed to sell $1.3 billion of its shares to New York-based infrastructure-focused investment firm Stonepeak.
The fresh capital injection—which brings to $2.5 billion total funds raised this year, including the $1.2 billion in debt raised in May—will support its expansion across Asia, Princeton Digital said in a statement.
“This milestone investment from Stonepeak is a strong endorsement of PDG’s strategy, execution, and sustained value creation,” Rangu Salgame, chairman, CEO and cofounder of PDG said in the statement.
Salgame and Varoon Raghavan, the company’s chief operating officer, cofounded Princeton Digital in 2017 in partnership with Warburg Pincus. Since then, the company has grown to become one of Asia’s biggest data center operators with a total capacity of more than one gigawatts across 20 facilities in China, India, Indonesia, Japan, Malaysia and Singapore. PDG also counts the Ontario Teachers Pension Plan and Abu Dhabi’s Mubadala among its existing investors.
Stonepeak is investing in Princeton Digital to tap into some of the world’s fastest growing digital hubs. Data center capacity across the Asia Pacific will double to 24 gigawatts by 2030, surpassing the projected 18.3 gigawatt capacity in the U.S., according to a recent report by real estate consultant Cushman & Wakefield.
00:00
03:12
Read More
MORE FOR YOU
Here’s How Much Donald Trump Is Worth
This Weekend Sees The Year’s Second And Final Solar Eclipse
The 8 Most Comfortable Flats That Kept My Feet Pain-Free For Hours
“As PDG’s largest shareholder, we are excited to welcome a like-minded partner to help propel the company into its next phase of growth, supporting the surging demand for AI and cloud infrastructure across the region,” Ellen Ng, co-head of Asia real estate at Warburg Pincus said.
Led by U.S. billionaire Michael Dorell—who has an estimated net worth of $8.5 billion according to Forbes—Stonepeak manages $73 billion in assets. The firm invests in sectors such as transportation and logistics, digital infrastructure, energy, and real estate.
Forbes Daily: Join over 1 million Forbes Daily subscribers and get our best stories, exclusive reporting and essential analysis of the day’s news in your inbox every weekday.Email AddressSign Up
By signing up, you agree to receive this newsletter, other updates about Forbes and its affiliates’ offerings, our Terms of Service (including resolving disputes on an individual basis via arbitration), and you acknowledge our Privacy Statement. Forbes is protected by reCAPTCHA, and the Google Privacy Policy and Terms of Service apply.
“PDG has established itself as one of the clear leaders among digital infrastructure platforms in the Asia Pacific region,” Andrew Thomas, senior managing director at Stonepeak said. “The company’s track record of execution, top-tier management team, and significant power bank in critical hub markets positions it well to serve the continued demand from hyperscalers and AI-driven platforms in the region.”
Got a tip? Share confidential information with Forbes.
Las Vegas Sands Doubles Down On Singapore Bet With $8 Billion Hotel Complex
Forbes Staff. Senior editor covering billionaires, entrepreneurs and deals in AsiaFollow Author
Jul 16, 2025, 12:33am EDTShareSave
Las Vegas Sands is doubling down on its bet in Singapore with an $8 billion investment to expand its footprint in one of Asia biggest financial centers to tap into travel boom.
On Tuesday, the American gaming giant started construction of a new 55-story hotel tower next to its existing Marina Bay Sands resort, casino and convention center at the heart of the city-state’s financial district. The ground breaking ceremony was officiated by Singapore Prime Minister Lawrence Wong and Las Vegas Sands cofounder Miriam Adelson, wife of the late casino billionaire Sheldon Adelson.
“Marina Bay Sands is the world’s most successful integrated resort in history and the gold standard in the industry,” Robert Goldstein, chairman and CEO of Las Vegas Sands, said in a statement. “It has been truly incredible to witness Mr. Adelson’s vision come to life, and we are proud to carry his legacy forward with today’s groundbreaking ceremony for our new development here. We have every intention of delivering a product that will be the envy of the hospitality industry and ushers in a new era of luxury tourism in Singapore.”
Designed by Safdie Architects, the firm behind Marina Bay Sands’ iconic design, the new hotel complex will have 570 suites, a 15,00-seat indoor arena for concerts and other live entertainment events, Las Vegas Sands said.
The hotel tower, which is expected to open in 2031, will also feature a 76,000-square-foot Skyloop, an multi-level observation deck about 245 meters above ground, providing panoramic views of the city and the harbor. The Skyloop will have a wellness terrace designed for yoga, arts and specialty events.
MORE FOR YOU
Here’s How Much Donald Trump Is Worth
This Weekend Sees The Year’s Second And Final Solar Eclipse
The 8 Most Comfortable Flats That Kept My Feet Pain-Free For Hours
Since opening in 2010, Marina Bay Sands—which was developed at a cost of $5.6 billion—has been a key growth driver for Las Vegas Sands. The property’s EBITDA increased 10% to $2.1 billion in 2024, accounting for about 48% of the group’s total.
Got a tip? Share confidential information with Forbes.
