Bain Eyes New Backers for Multibillion-Dollar China Data-Center Firm Chindata
- Bain is working with advisers as it seeks partners in Chindata
- TikTok owner ByteDance is one of Chindata’s major customers
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Bain Capital is considering bringing fresh backers into Chindata Group Holdings Ltd., people familiar with the matter said, allowing it to raise cash and keep expanding the data-center company.
The US-based investment fund is working with advisers to find partners in some of the data centers, the people said, asking not to be identified because the matter is private. Bain plans to sell ownership rights for the assets to help lighten its balance sheet, while charging maintenance and operation fees, one of the people said.