Mount Elbert Closes Upsized First Fund at $382 Million
Mount Elbert Capital Partners (“Mount Elbert”), a real-assets private equity firm with specialized capabilities in internet infrastructure, today announced that it has completed the final closing of its first fund, Mount Elbert Capital Partners Fund 1 (”Fund 1”). The Fund closed on equity commitments totaling $382 million, surpassing the initial target of $290 million. In raising Fund 1, Mount Elbert attracted a range of global investors, including pension funds, endowments, and family offices.
Fund 1 was 22% invested at December 31, 2018, investing alongside global institutional investors GIC and OPTrust in EdgeCore Internet Real Estate (“EdgeCore”). EdgeCore is an investment vehicle developing, acquiring, and operating data centers and related infrastructure, and has been initially capitalized with over $900 million of equity targeted to support approximately $2.0 billion in data center development. In addition to Mount Elbert’s investment through Fund 1, Mount Elbert affiliates serve as General Partner of and provide asset-management, development, and leasing services to EdgeCore.
“We appreciate the support of our investors and the trust they place in us. We are pleased to have been oversubscribed in Fund 1, and we believe the investment environment for the Fund is attractive,” said Tom Ray, Chairman, and CEO of Mount Elbert. “We are also pleased to have established the operating capabilities inherent in Mount Elbert’s service affiliates; we view these capabilities as invaluable and have positioned them to scale and support further investment. Experienced as both investors and operators, we work to leverage our industry relationships, investment vision, and operational insight and resources to discern a deeper layer of opportunities and risks in an investing environment featuring an abundance of both. We remain focused upon generating attractive risk-adjusted returns by sourcing attractive investment opportunities and catalyzing elevated execution through our highly driven operational capability and ethos.”
Jefferies LLC served as exclusive global placement agent and financial advisor for Mount Elbert.
This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any securities.
About Mount Elbert
Mount Elbert Capital Partners is a real-assets private equity firm with specialized capabilities in internet infrastructure, including data centers, colocation and interconnection assets and operating companies, and related assets. Our founders and investment professionals have experience evaluating, making and managing investments in real assets with an aggregate value exceeding $20 billion across the US, Europe, and Asia, with more than $15.0 billion in internet infrastructure. For more information, visit www.mountelbert.com.
About EdgeCore Internet Real Estate
EdgeCore Internet Real Estate is a preeminent U.S. developer, owner and operator of highly scalable, cloud-connected, wholesale data center campuses, providing solutions to the Global 2000, including hyperscale cloud and internet companies. EdgeCore is currently developing data center campuses in Dallas, Phoenix, Northern Virginia, Reno, and Silicon Valley with plans to develop campuses in additional markets. Each of the Company’s five initial campuses is designed to support between 80 and 225 MW of critical load, representing total capacity exceeding 800 MW across the Company’s current platform. EdgeCore is committed to enabling the growth and supporting the rigorous performance requirements of its customers leveraging ready-for-service capacity and bespoke build-to-suit solutions across the U.S. For more information, visit www.edgecore.com or follow us on Twitter or LinkedIn.
About GIC
GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including real estate, private equity, equities and fixed income. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs close to 1,500 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg.
About OPTrust
A fully funded plan with net assets of over $20 billion, OPTrust invests and manages one of Canada’s largest pension funds and administers the OPSEU Pension Plan, a defined benefit plan with over 92,000 members and retirees.
OPTrust is a global investor in a broad range of asset classes including Canadian and foreign equities, fixed income, real estate, infrastructure and private markets, and has a team of highly experienced investment professionals located in Toronto, London and Sydney. As a pension management organization, OPTrust’s mission is to pay pensions today, preserve pensions for tomorrow. For more information, please visit www.optrust.com.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190326005303/en/
Contact information
Mount Elbert Capital Partners
Claire Rowberry
claire@clearcommsc.com
+1
617 785 5571
About Business Wire
Business Wire(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
H.I.G. Capital Announces the Sale of DGS S.p.A.11.6.2024 12:00:00 CEST | Press release
H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $62 billion of capital under management, is pleased to announce that an affiliate has signed a definitive agreement to sell its portfolio company, DGS S.p.A. (“DGS” or the “Group”), a leading firm in the Italian Information Technology market, to DGS Co-Founders and management team in partnership with ICG, a global alternative asset manager. Since its inception in 1997, DGShas supported blue-chip customers in the design, integration, and maintenance of complex IT systems, with a specialization in digital transformation and cybersecurity services. The Group currently has over 1,900 employees, revenues of approximately €300 million, and maintains a group of highly loyal clientele. During H.I.G.’s ownership, DGS has tripled in size and consolidated its position as a leading Italian firm in cybersecurity services and digital transformation. DGS offers its clients sophisticated and proprietary digital transformation
Evertas Names Nick Selby Head of European Underwriting11.6.2024 12:00:00 CEST | Press release
Evertas, the world’s first crypto insurance company, has named Nick Selby as its new Head of European Underwriting. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611141887/en/ Nick Selby, Executive Vice President and Head of European Underwriting at Evertas (Photo: Business Wire) Selby, an accomplished information and physical security professional, brings two decades of expertise in public and private sector information security, physical security, and complex incident handling, as well as seven years of experience leading teams securing billions of dollars in cryptoassets. Previously, his roles included VP of the Software Assurance Practice at Trail of Bits, Chief Security Officer at Paxos Trust Company, and Director of Cyber Intelligence and Investigations at the NYPD Intelligence Bureau. “Nick is an extremely valuable addition to our European team,” said Evertas CEO and Co-Founder J. Gdanski. “His public and private
Owlet utvider globalt fotavtrykk med lanseringen av medisinsk-sertifisert Dream Sock™ i Storbritannia og over hele Europa11.6.2024 11:00:00 CEST | Pressemelding
Owlet, Inc. («Owlet» or the «Company») (NYSE:OWLT), pioneren innen smart spedbarnsovervåking, kunngjør i dag den britiske og europeiske lanseringen av Dream Sock. Dette er en smart babymonitor med levende helseavlesninger og varsler for friske spedbarn mellom 0-18 måneder og 2,5-13,6 kg. Dette innovative medisinske utstyret gir foreldre helse og viktig informasjon i sanntid, noe som gir uovertruffen trygghet. Denne pressemeldingen inneholder multimedia. Se hele pressemeldingen her: https://www.businesswire.com/news/home/20240611820341/no/ (Photo: Business Wire) «Vi er svært stolte over å lansere Dream Sock til omsorgspersoner over hele Storbritannia og Europa og gi millioner av foreldre mer trygghet mens babyen sover,» sa Kurt Workman, Owlets administrerende direktør og medgründer. «Dream Sock er nå et globalt produkt som er anerkjent som medisinsk nøyaktig og trygt, etter å ha gjennomgått regulatoriske autorisasjoner og sertifiseringer innenfor flere geografier. I dag er misjonen vår
V-Nova Surpasses 1000 Patent Milestone in Media Technology Innovation11.6.2024 10:00:00 CEST | Press release
V-Nova, a leading provider of data compression solutions, video compression technology, XR technology, AI acceleration and parallel processing for a multitude of industries including media and entertainment, today announced its milestone achievement of 1000 active technology patents. This accomplishment underscores V-Nova’s dedication to research and development and its commitment to protecting its intellectual property globally. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240611724561/en/ V-Nova’s patent portfolio spans more than 50 different jurisdictions. Including over 400 patents in Europe, over 200 in the Americas, over 100 in the United States specifically, and over 200 in Asia. V-Nova forged new directions in data processing to enhance digital experiences, maximize efficiency, reduce costs, and increase sustainability. The company leads the way with key international data compression standards for the video indust
Alipay+ Reveals Top Scorer Trophy Design for UEFA EURO 2024™11.6.2024 09:24:00 CEST | Press release
Alipay+, a suite of cross-border mobile payment and digitalization technology solutions operated by Ant International and an Official Partner of UEFA EURO 2024™, today revealed the trophy that will be awarded to the most prolific marksman at the UEFA EURO 2024™ finale on July 14 in Berlin, Germany. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20240610328619/en/ The UEFA Top Scorer Trophy presented by Alipay+ is unveiled for UEFA EURO 2024™ (Photo: Business Wire) Sculpted in the shape of the Chinese character “支” (pronounced zhi, and meaning payment as well as support), the trophy reflects Alipay+’s dedication to supporting consumers to enjoy seamless payment and a broad choice of deals using their preferred payment methods while traveling abroad. The character also resembles the fleeting moment of a barefooted striker poised to shoot, evoking the original beauty and power of football – a game that united people across the wo