Brookfield is exploring the sale of a minority stake in Ascenty, a leading Latin American data center operator, seeking an investment bank to advise on the transaction. The Canadian investor, in partnership with Digital Realty, aims to secure funding for Ascenty's expansion, primarily in Brazil. Brookfield is reportedly considering local banks it has worked with previously, such as Itaú BBA and Bradesco BBI, for the advisory role.
Ascenty's expansion aligns with Brazil's growing prominence as a global data center hub. Driven by surging demand for cloud computing and artificial intelligence, investors are projected to invest over $10 billion in Brazil's data center sector over the next decade. Brazil, with fewer than 200 facilities, already stands among the top 15 global markets for data centers. Brookfield initiated talks with banks in 2024, targeting to finalize the selection process early this year and complete the sale by the end of 2025. Founded in 2010, Ascenty operates 34 data centers in Brazil, Mexico, Chile, and Colombia, interconnected by a 5,000-kilometer fiber-optic network. The asset management firm has yet to determine the value of the stake for sale, and valuing Ascenty presents a challenge due to its non-publicly traded status. Since Brookfield and Digital Realty acquired Ascenty for $1.8 billion in 2018, its data center count in Latin America has more than doubled
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