Infrastructure for a More Digital and Energy-Intensive Economy
The Infrastructure segment develops and invests in assets that provide essential capacity for digitalization, energy supply and high-tech industry.
Our principal areas of interest include data centers, power generation and energy infrastructure, industrial utilities, and infrastructure serving semiconductor and other advanced manufacturing clusters.
The Group's real estate development experience and its majority ownership of Exyte provide a strong understanding of the practical requirements of complex infrastructure. Investment decisions nevertheless remain independent and are based on the economics, risk allocation and long-term competitiveness of each project.
Investment Focus
Data Centers
We assess data center projects based on access to reliable power, fiber connectivity, land, water and cooling solutions, planning conditions, customer demand and the ability to deliver capacity on a realistic schedule. Particular attention is paid to energy efficiency, grid constraints and the flexibility required for high-density computing and AI workloads.
Energy and Power
We consider conventional and renewable generation, storage and related energy systems where they can provide dependable and economically competitive power. We are especially interested in solutions linked to major industrial or digital infrastructure users.
Industrial Utilities
Advanced manufacturing depends on reliable supplies of power, water, gases and other utilities. We evaluate shared or dedicated infrastructure that can improve resilience and support the expansion of large industrial sites and clusters.
Investment Criteria
- Clear long-term demand from creditworthy users
- Secure access to land, power, utilities and required permits
- Robust project economics under conservative assumptions
- Appropriate allocation of construction, market and operating risks
- Experienced technical and operating partners
- A credible route to resilient cash flow or strategic value
Selected Investments
Jurong Data Centre
Singapore
In Jurong, Singapore, we developed, financed and built a data center with a total capacity of approximately 28 MW. Following final completion, we sold the project to a US-based REIT.
Trigen
Dresden, Germany
For a semiconductor factory in Dresden, Germany, we designed, built and financed an energy supply center. The center is equipped with nine natural gas generators and can continuously deliver 35 MW of electricity, 38 MW of heat, and 53 MW of cooling power for the semiconductor factory. We sold the project to a European utility company.
Solar Parks
Italy
In the Italian regions of Marche and Puglia, we developed, financed, built and operated a portfolio of 9 solar parks with a total capacity of 29.1 MWp. Following a re-financing through a non-recourse project financing, we sold the portfolio to a US-based infrastructure private equity fund.
Utility-Scale, Commercial and Residential Solar Parks
Globally
On aggregate and with different depths along the value chain, we developed, financed, installed and operated a total of over 1.5 GW of solar projects in the US, Germany, Australia, the Middle East and India, thereof 300 MW of residential solar projects, 100 MW of commercial roof-top and carport projects and 750 MW of utility-scale solar projects.