Ares Lands $2.4 Billion Loan Deal for Vantage Data Centers
The Vantage portfolio includes 17 campuses to power primarily cloud and AI technologies.
Source: Vantage Data CentersAres Management Corp. is providing $2.4 billion of debt financing to Vantage Data Centers, part of which may be used to fund the build-out of infrastructure supporting Oracle Corp.’s partnership with OpenAI.
The alternative asset manager agreed to commit $1.6 billion to Vantage and has already funded roughly $330 million for the project, Ares said in an emailed statement. The funds will be used to support the development, construction and operation of data centers across Vantage’s North America portfolio as well as refinance existing debt.