Ontario Teachers’ Pension Plan has completed the acquisition of an additional 29 per cent stake in Australia’s Metronode from CIMIC Group Ltd.
The pension fund now has full ownership of the data centre provider, which has operational facilities throughout Australia. It had previously held a 70 per cent stake in the business as part of its 2013 acquisition of a majority interest in its parent company, Nextgen Group Holdings.
“Metronode is a highly desirable asset and we are extremely pleased to take on this increased ownership within a sector that is poised for steady, continued growth,” said Jane Rowe, senior vice-president of private capital at Ontario Teachers’ Pension Plan.
“We look forward to supporting Metronode’s management on their continued growth within the business.”