German financial giant Allianz has acquired a stake in data center firm Yondr.

Allianz Global Investors (AllianzGI) has announced today that its subsidiary Allianz Capital Partners GmbH has acquired a minority stake in Yondr Group, joining DigitalBridge and La Caisse (formerly CDPQ) as investors in the firm.

Terms of the deal were not shared. The stake was acquired on behalf of the Allianz insurance companies and the Allianz European Infrastructure Fund II.

“Excited to welcome Allianz Global Investors as a minority investor to Yondr, adding another global, well-capitalized, and like-minded partner to our investor base to support our growth,” a Yondr post on LinkedIn said.

Yondr operates data center campuses across Europe, Asia, and North America, with developments in Virginia, Canada, the UK, Malaysia, Indonesia, Japan, Germany, the Netherlands, and India.

The company said it has more than 420MW of capacity committed to hyperscalers and a landbank capable of supporting more than 1GW of future capacity.

Ludovic Subran, Allianz Group chief investment officer, said: “Bridging the growing infrastructure investment gap is part of our mission as a long-term investor. The energy transition and digital transformation are two central pillars of infrastructure investment needed to modernize our society and support growth and resilience. Through targeted investments like Yondr alongside excellent partners, we enable our clients to participate in and help to support structural growth trends shaping tomorrow’s economy.”

Yondr is headquartered in London and was previously owned by single-family investment office Cathexis, Apollo Global Management, and Mubadala. It was acquired by DigitalBridge and Canadian pension fund La Caisse in a deal that closed earlier this month.

Joerg Spanier, co-head of direct infrastructure equity Munich at Allianz Global Investors, added: “As the world becomes increasingly digital and AI-driven, the demand for high-performance, energy-efficient infrastructure is accelerating at an unprecedented pace.

“Data centers play a pivotal role in enabling this digital transition, which we are proud to support through this investment in Yondr. With our platform now spanning fibre networks, mobile towers, and data centers, we are building the digital backbone of the future while delivering attractive returns to our investors.”

AllianzGI manages €561 billion ($655.3bn) in assets, with more than €95bn in private markets ($111bn) and more than €50bn ($58.4bn) in infrastructure assets. It previously funded part of a loan to APAC data center firm PDG.