STACK Infrastructure and IPI Partners Announce Global Expansion to Asia Pacific
Posted Oct 14, 2021 17:19 (GMT +7)
Preet Gona Joins STACK as CEO, Asia Pacific
DENVER & CHICAGO & SINGAPORE--(BUSINESS WIRE)--Oct. 13, 2021
STACK Infrastructure (“STACK”), a digital infrastructure partner to many of the world’s most innovative companies, today announced its international expansion to the Asia Pacific region with the opening of its Singapore regional headquarters.
STACK is sponsored by IPI Partners (“IPI”), a global investment platform with more than $5.25 billion in total equity commitments specializing in acquiring, developing, leasing, and operating critical digital infrastructure assets to serve the needs of large, high-quality technology companies globally.
STACK intends to initially target Tokyo and Osaka, with plans to enter Singapore, Hong Kong, South Korea, Australia, and other Asia Pacific markets shortly thereafter, through a combination of acquisitions and organic development in partnership with landowners and real estate platforms.
In connection with the expansion, IPI and STACK are pleased to announce that Pithambar (Preet) Gona has joined STACK as Chief Executive Officer, Asia Pacific to lead the execution of the company’s growth strategy in the region. Mr. Gona previously served as the President, Chief Financial Officer, and Chief Investment Officer of Bridge Data Centres, which merged with ChinData Holdings. Prior to Bridge Data Centres, Mr. Gona was a Managing Director at Blackstone where he was responsible for the firm’s private equity operations in Southeast Asia.
Tom Duncan also recently joined STACK Asia Pacific and will lead business development, further extending STACK’s unique partnership model with landowners and other real estate platforms in order to strengthen customer relationships in the region. Mr. Duncan was previously an Executive Director at CBRE where he implemented data center technology solutions in Asia Pacific, developing site selection expertise and customer relationships over his 13-year tenure.
The executive team will be based in Singapore with local development professionals already hired in key target markets.
“The launch of STACK Asia Pacific represents an exciting milestone in the evolution of our company,” said Brian Cox, Chief Executive Officer of STACK. “We are committed to building out international markets that are strategic to our customers, and our expansion to Asia Pacific is a natural next step in offering flexible critical infrastructure solutions that meet and support their complex and evolving requirements. We are pleased to welcome Preet, a proven leader in the industry, to our team and look forward to benefitting from his local investment, development, and operating expertise.”
“STACK has proven itself as a trusted partner to hyperscale and enterprise customers through its innovative technical solutions and commercial models. I am excited by the opportunity to leverage STACK’s tremendous success in North America, which we look to replicate in the Asia Pacific region,” said Mr. Gona. “Our focus is on building a world class team by being an employer of choice in the industry and assisting our customers in navigating the unique development and operating challenges in the region.”
Matt A’Hearn, Partner at IPI, commented, “We have a great opportunity to further build on STACK’s success with this expansion and we are confident that STACK’s industry leading platform, together with Preet’s leadership and experience in the region is a winning combination. IPI is committed to investing in Asia Pacific and to addressing our customers’ growing need for digital infrastructure around the world.”
ABOUT STACK INFRASTRUCTURE
STACK provides digital infrastructure to scale many of the world’s most innovative companies. With a client-first approach, the company delivers a comprehensive suite of wholesale build-to-suit, colocation, and powered shell solutions in the United States, Canada and Asia Pacific. With robust existing and flexible expansion capacity in the leading availability zones, STACK offers the scale and geographic reach that rapidly growing hyperscale and enterprise companies need. The world runs on data. And data runs on STACK.
ABOUT IPI PARTNERS
IPI Partners specializes in acquiring, developing, leasing, and operating critical digital infrastructure assets to serve the needs of large, high-quality technology companies globally. Over the past five years, IPI has built one of the largest privately held hyperscale and enterprise data center portfolios in the world with facilities in the United States of America (eight of the top 10 markets), Canada, Norway, Sweden, Denmark, and Italy with the ability to support over 1.3 Gigawatts of IT capacity. IPI Partners has raised more than $5.25 billion in total equity capital commitments across two closed-end investment vehicles.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211013005341/en/
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