Mitsui & forms data center core fund, buys assets

Mitsui & Co. (TSE:8031) announced it will acquire operational hyperscale data center (HSDC) assets in Japan through a newly established holding company. Mitsui & Co.'s subsidiary, Mitsui & Co. Asset Management Holdings, will invest ¥18 billion for a 50% stake in the holding company, with additional financing through non-recourse loans. The acquisition will serve as a seed asset for a new data center core fund aimed at attracting domestic and international institutional investors. Mitsui & Co. has been involved in HSDC development since 2021 through a development fund managed by Mitsui & Co. Realty Management.