Swiss Life Asset Managers Led Consortium to Acquire a Significant Minority Stake in DataBank for $1.2B
Vinson & Elkins advised a consortium of investors led by Swiss Life Asset Management AG (SLAM), a Swiss asset manager with over 160 years’ experience and €266 billion in assets under management, and including EDF Invest (EDF), the investment arm of the French-based EDF Group, in the acquisition of a large minority interest in DataBank, a portfolio company of DigitalBridge Group, Inc.
DataBank is the largest edge infrastructure operator in the U.S. with a portfolio consisting of more than 65 data centers, 20 interconnection hubs in more than 27 markets, on-ramps to an ecosystem of cloud providers, and a modular edge data center platform. Under the terms of the agreement, SLAM and EDF will acquire approximately 27% of the fully diluted equity interests in DataBank for approximately $1.2 billion in cash from existing investors, on a pro-rata basis. The transaction is expected to close in the third quarter of 2022.
The V&E team was led by partners Gabriel Silva and Robert Hughes, with assistance from senior associates Yong Eoh and Gabriela Astolphi, associates Waid Barfield, Libby Gerstner and Kelli Westmoreland and visiting international law clerk Yasmim Santos. Other key team members include partners Ron Nardini and Chris Mangin and associate Jeff Slusher; partner Sarah Mitchell and associate Victoria Bahrami-Negad; partner Rajesh Patel and associate Marcus Martinez; counsel Martin Luff; associates Brian DeShannon and Keira Kuntz; partner Tzvi Werzberger, senior associates Caitlin Snelson and Carter Olson and associate Ariel Guerrero-Stewart; partner Randy Jurgensmeyer and associates Joe O’Connell and Alex Paez; partner Zach Terwilliger and associate Pete Thomas; partner Hill Wellford; and partner Rick Sofield and associate John Satira.
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