Specialist digital infrastructure investor DigitalBridge Group has held a close of its first credit fund with $1.1 billion of commitments.
The DigitalBridge Credit (Onshore) vehicle along with its parallel vehicles and co-investment commitments has secured the sum to support the growth of companies in the digital infrastructure sector. It will target all subsectors of digital infrastructure with first lien, second lien and junior debt transactions.
Investors include pension funds, insurance companies, sovereign wealth funds, asset managers, family offices and private wealth platforms. The investor base is spread across the world and includes both new and existing DigitalBridge LPs.
Dean Criares, head of credit at DigitalBridge, said: “This closing is an important milestone for the firm’s credit platform and reflects great partnership with investors and clients. Establishing DigitalBridge’s brand within the expanding private credit sector reflects support from senior management and the strength of our relationships and partnerships with industry experts as we source and diligence opportunities.”
He added that the addressable market for digital infrastructure is significant and growing with opportunities to deliver quality assets to investors.
The vehicle has already begun investing with 11 transactions to date across assets including data centres, fibre, satellite broadband and cloud infrastructure.
Latham & Watkins advised DigitalBridge on fund formation.