Stoneweg European Business Trust invests 50 million euros in fund with early-stage data centre sites

The manager of Stoneweg European Business Trust (Sert) announced on Tuesday (Jun 24) that the stapled trust has made a 50 million euros (S$74.4 million) investment in the Stoneweg Icona data-centre (IDC) fund.

Its stake in the fund is expected to range from four to eight per cent depending on the final quantum of investment made by the other investors.

The data centre portfolio comprises interests in four early-stage data centre development sites of 225 hectares in total size located in Ireland, Spain, Italy, and Denmark. These sites possess a secured 1,116 megawatt (MW) of power, with very good visibility for an additional 563 MW, for a total 1,679 MW.

At this level, the IDC would command a share of the current European operational power capacity which exceeds 14 per cent, and would be the largest data centre operator the region.

The current estimated gross development value over the next 15 years is 29.5 billion euros at current market values for the 100 per cent interest in all four projects, according to valuer JLL.

The assets are projected to reach a gross development value of 29.5 billion euros over 15 years, to position the platform to become Europe’s largest data centre operator by power capacity.

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This is SWI Group’s, comprising Stoneweg, Icona Capital, its subsidiaries and associates, first transaction since it became the sponsor of Stoneweg Europe Stapled Trust at the end of 2024.

The move also complements the stapled trust’s existing data centre holdings in Denmark and Poland, so as to diversify into high-growth infrastructure assets alongside its logistics and light industrial portfolio.

Max-Herve George, chairman and co-chief executive of SWI Group said: “Our IDC platform will drive the development of data centres in Europe’s most strategic locations – powering the future of artificial intelligence and cloud computing with flexible capital and deep local expertise.”

The counter ended flat at 1.52 euros on Monday.