I Squared Capital Agrees to Buy Data Centers as Part of $1 Billion Platform Push

Dow Jones

May 26

By Adriano Marchese

I Squared Capital is acquiring a portfolio of ten data-center facilities from Cogent Communications Holdings' subsidiary Cogent Fiber for $225 million in cash.

The infrastructure-focused private investment company said Tuesday that the portfolio will serve as the foundation for a new U.S. data-center operating platform that it plans to scale by way of a $1 billion commitment.

The portfolio is made up of about 53 megawatts of installed power capacity and about 260,000 square feet of available colocation space across nine U.S. markets: Chicago, Atlanta, Phoenix, Los Angeles, Kansas City, Baltimore, Houston, Nashville and Stockton.

The company said the facilities are purpose-built, owned outright and capable of supporting high-density and liquid-cooling-enabled deployments suited for AI inference workloads.

The platform will be focused on colocation and artificial-intelligence inference infrastructure. The earmarked $1 billion capital commitment will go toward building the platform through targeted capital investment, customer-led expansion and additional acquisitions.

The deal is expected to close in the third quarter of this year, after which I Squared will set up a new standalone operating platform that will own and operate the business.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

May 26, 2026 11:14 ET (15:14 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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