Fintech PR
Starwood Capital Group Unveils Strategic Investment in Echelon Data Centres
Approximately $850 Million Investment to Provide the Company with Significant Capital to Aid in its Continued Expansion
MIAMI, Feb. 15, 2024 /PRNewswire/ — Starwood Capital Group (“Starwood Capital” or “the Firm”), a leading global private investment firm focused on real estate, today announced that a controlled affiliate had made a strategic investment in Echelon Data Centres (“Echelon” or “the Company”).
Echelon was founded in 2016 and has grown to become one of the leading data centre developers in Ireland and the United Kingdom, providing large-scale facilities to support the growing global demand for data and computing resources – sustainably, responsibly and with due regard for the environment. Echelon currently has 140MW of capacity that is either operational or in late-stage construction, including a fully pre-committed 91.4MW hyperscale campus in Dublin. In addition, the company has a strategic landbank in excess of 500MW, of which 168MW is in advanced stages of agreement with occupiers and expected to commence construction in H1 2024.
The transaction will see Starwood Capital commit approximately $850 million through Starwood Opportunity Fund XII and Starwood Real Estate Income Trust, Inc, becoming a 50% shareholder in Echelon and providing material capital for its continued growth. The investment values the Company at approximately €2.5bn Enterprise Value. The Company’s capitalisation is further primed for growth through a new €900m debt facility provided by Morgan Stanley and United Overseas Bank (“UOB”).
Over the past five years, Starwood Capital has built a significant global data centre business committing approximately $8 billion of capital across 1.5 gigawatts of capacity in various stages of development, making it one of the largest privately held data centre developers in the United States and Europe. The firm recently launched Starwood Digital Ventures to oversee its data centre investment strategy and activities globally.
Lorcain Egan, Co-Head, Europe, Starwood Capital Group, commented: “Starwood Capital is delighted to announce this investment in Echelon. It is a testament to the business the Echelon team has built since 2016 to establish a leading European data centre platform. Echelon has been delivering critical infrastructure to support the growth of some of the world’s most dynamic technology companies and we look forward to continuing to partner with them in that mission. For Starwood Capital, this significant and strategic investment continues our long-term focus and capital deployment into a core sector for our European business.”
David Smith, Managing Director and Head of Data Centres, Europe at Starwood Capital, added: “We are incredibly excited to continue our long-standing relationship with the Echelon team and to support the accelerated growth of its business. This investment builds on our expertise and track record in the sector, including our recent launch of Starwood Digital Ventures, a platform dedicated to our growing global data centre investment strategy.”
“Data centres have been a core thematic for us in the United States and Europe over the last five years and we are delighted to grow our portfolio in a key sector with strong tailwinds. This transaction materially enhances our data centre footprint and capabilities in Europe. We are confident that with the Echelon team and Starwood Digital Ventures we will continue to find further opportunities to deploy capital into transactions with attractive risk adjusted returns for our investors, both in Europe and the United States, where we have an additional 600MW of projects in our pipeline, bringing our total global platform to ~1.5GW,” said Barry Sternlicht, Chairman and CEO of Starwood Capital.
Niall Molloy, CEO & and Founder of Echelon Data Centres, said: “We are very pleased to enter into this transaction with our long-standing partner, Starwood Capital. Starwood Capital’s scale, access to capital and track record position Echelon incredibly well to service our customers’ growth requirements on a global basis. We look forward to the continued growth of the business and expansion into new European markets and beyond.”
Trevor Whelan, CIO of Echelon Data Centres, said: “Today’s announcement is a huge milestone for the Echelon team on the journey to establishing a global data centre platform centred around large-scale campuses, and vertical integration with power generation. It is also a milestone day for Starwood Digital Ventures, and we are excited to be one of the foundation blocks as they rapidly grow their Digital Infrastructure business.”
Deutsche Bank acted as lead financial advisor and Morgan Stanley acted as financial advisor for Starwood Capital, while Kirkland & Ellis and Arthur Cox acted as legal counsel.
Eastdil Secured acted as lead financial advisor and Nomura acted as financial advisor for Echelon Data Centres, and William Fry acted as legal counsel.
Morgan Stanley and UOB acted as Mandated Lead Arrangers on the financing. Allen & Overy, Arthur Cox and A&L Goodbody acted for Echelon Data Centres on the financing and due diligence.
About Starwood Capital Group
Starwood Capital Group is a private investment firm with a core focus on global real estate. The Firm and its affiliates maintain 16 offices in seven countries around the world, and currently have 5,000+ employees. Since its inception in 1991, Starwood Capital Group has raised over $75 billion of capital, and currently has ~$115 billion of assets under management. Through a series of comingled opportunity funds and Starwood Real Estate Income Trust, Inc. (SREIT), a non-listed REIT, the Firm has invested in virtually every category of real estate on a global basis, opportunistically shifting asset classes, geographies and positions in the capital stack as it perceives risk/reward dynamics to be evolving. Starwood Capital also manages Starwood Property Trust (NYSE: STWD), the largest commercial mortgage real estate investment trust in the United States, which has successfully deployed over $95 billion of capital since inception and manages a portfolio of over $27 billion across debt and equity investments. Over the past 32 years, Starwood Capital Group and its affiliates have successfully executed an investment strategy that involves building enterprises in both the private and public markets. Additional information can be found at www.starwoodcapital.com.
About Echelon Data Centres
Echelon Data Centres is an international data centre infrastructure developer providing large-scale assets to support the growing global demand for data and computing resource – sustainably, responsibly and with due regard for the environment. The company currently has four Irish sites under development, with a combined potential capacity of more than 500MW (DUB10 – Clondalkin; DUB40 – Grange Castle; DUB20 and DUB30 – Arklow, Co Wicklow). Echelon’s portfolio also includes a fully-let and operational 20MW data centre facility (LCY10) in London’s Docklands (UK), and are under construction at LCY20, a 30MW data centre in Chesham, Buckinghamshire (UK).
Media Contacts
For Starwood Capital Group
Tom Johnson or Emma Prenn-Vasilakis, H/Advisors Abernathy
tom.johnson@h-advisors.global or emma.prenn-vasilakis@h-advisors.global
For Echelon Data Centres:
- Craig McKechnie | 4TC | +353 (0)87 621 8839 | craig@4tc.ie
- Jeremy Probert | 4TC | +353 (0)89 700 0792 | jeremy@4tc.ie
Echelon Image Resources are available here:
https://echelon-dc.com/media-resources/
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Fintech PR
Crisil Integral IQ wins multiple recognitions in the Chartis RiskTech Model Risk Management 2024 Quadrants report
Secures pole position for credit and derivatives solutions on debut
NEW YORK and LONDON, Jan. 24, 2025 /PRNewswire/ — Crisil Integral IQ, the global provider of advanced analytics and model risk management solutions, has been named Category Leader in three quadrants in the Chartis RiskTech Model Risk Management 2024 Quadrants report.
The company secured the coveted pole position in two quadrants, reinforcing its expertise in model risk management and reflecting its unwavering commitment to delivering innovative, reliable and best-in-class solutions to clients.
The Chartis report analyses the model risk management vendor landscape and underscores the convergence of model validation and governance solutions globally. It lists key players, their strengths, importance of model governance, and the need for specialist tools and expertise.
Says Michael Winn, Global Head of Quantitative Risk Solutions, Crisil Integral IQ, “We are delighted and honoured to be recognised as the Chartis Quadrant Leader for Model Validation Solutions and Services in both credit and derivatives, and for Excellence in Model Governance Solutions. This is a testament to the expertise and dedication of our teams, and their commitment to providing clients with high-quality, bespoke model risk management services.”
Crisil Integral IQ offers comprehensive expertise in model risk management, with experience across the model risk lifecycle, including model development, validation, governance, and inventory management:
- Model development and documentation services cover design, development, integration and implementation of models as per policy and standards
- Model validation services comprise full-scope validation, partial validation, model change review and annual reviews
- Model governance and inventory management services include model risk tiering, ongoing model performance monitoring, model inventory management, policy and model risk framework design
Crisil Integral IQ’s experience in model risk management spans all model classes, including derivatives pricing, market risk, credit risk, capital and regulatory, qualitative, credit decisioning, operational risk, climate risk, and artificial intelligence and machine learning models.
Says Nageswara Sastry Ganduri, Global Head of Quantitative Services, Crisil Integral IQ, “The accolade highlights the trust and confidence reposed by clients, partners and stakeholders in our ability to address their evolving model risk management challenges with precision and expertise. We remain laser-focused on delivering model risk management solutions that help clients navigate complex regulatory and operational landscapes. We celebrate this success with our clients, teams and partners, who have been instrumental in this journey. Together, we will continue to raise the bar in model risk management.”
Crisil Integral IQ’s risk management solutions expedite regulatory and internal compliance, enable informed decision-making, and deliver substantial cost efficiencies for financial institutions. Among the key solutions are:
- Model Infinity: A cloud-ready platform for model inventory, workflow and governance. It leverages advanced analytics and robust reporting to address distinct model inventory and model risk management requirements
- Scenario Expansion Manager: An adaptable tool that empowers financial institutions to seamlessly define, design, expand and analyse regulatory and internal stress-testing scenarios with precision and flexibility
Earlier this year, Crisil Integral IQ was recognised in three categories of the STORM50 report. Further, the company was named Category Leader in Model Validation for the third consecutive year in the RiskTech100 report. Crisil Integral IQ was also named Category Leader in the Regulatory Reporting Solutions Quadrant Report 2024.
The achievements highlight Crisil Integral IQ’s exceptional capabilities in risk management and regulatory compliance.
Chartis Research is part of Infopro Digital, which encompasses multiple brands, digital channels and events across the finance, technology and corporate sectors. Their combined reach of more than 400,000 risk and compliance professionals makes the RiskTech100 report the most comprehensive study of its kind.
About Crisil Integral IQ (formerly Global Research & Risk Solutions)
Crisil Integral IQ delivers solutions and actionable intelligence to top financial institutions, driving strategic transformation, risk optimization, and operational excellence. Our offerings across research, risk, lending, analytics and operations have empowered clients to navigate complex markets, mitigate risks and unlock new opportunities. Our domain expertise, innovative solutions, future-ready technologies such as AI and data science give clients the confidence to accelerate growth and achieve sustainable competitive advantage. Our globally diverse workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East.
For more information, visit IntegralIQ.Crisil.com
About Crisil
Crisil is a global, insights-driven analytics company. Our extraordinary domain expertise and analytical rigour help clients make mission-critical decisions with confidence.
Large and highly respected firms partner with us for the most reliable opinions on risk in India, and for uncovering powerful insights and turning risks into opportunities globally. We are integral to multiplying their opportunities and success.
Headquartered in India, Crisil is majority owned by S&P Global.
Founded in 1987 as India’s first credit rating agency, our expertise today extends across businesses: Crisil Ratings, Crisil Intelligence, Crisil Coalition Greenwich and Crisil Integral IQ.
Our globally diverse workforce operates in the Americas, Asia-Pacific, Europe, Australia and the Middle East, setting the standards by which industries are measured.
For more information, visit www.Crisil.com
Connect with us: LinkedIn | Twitter
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Crisil has taken due care and caution in preparing this press release. Information has been obtained by Crisil from sources which it considers reliable. However, Crisil does not guarantee the accuracy, adequacy or completeness of information on which this press release is based and is not responsible for any errors or omissions or for the results obtained from the use of this press release. Crisil, especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this press release.
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Fintech PR
Dechert Advises Fasanara Capital Ltd on Launch of First Tokenised Money Market Fund
LONDON, Jan. 24, 2025 /PRNewswire/ — Dechert advised Fasanara Capital Ltd (Fasanara), a London-based institutional investment manager with over US$4 billion in assets, on launching its first tokenised money market fund.
This innovative product combines the stability of traditional money market investments with the operational efficiency of blockchain technology.
Dechert’s team worked closely with Fasanara and key service providers on all aspects of the fund structure, product solution development, and legal documentation.
Fasanara’s first tokenised money market fund offers investors daily liquidity, with ownership of shares maintained on the Polygon blockchain, with the ability to integrate other blockchains in the future.
Investors can subscribe for shares using digital assets and earn stable yields without leaving the blockchain ecosystem.
As one of the first of its kind, Fasanara’s tokenised money market fund seeks to significantly reduce settlement times, increase operational efficiency, and provide greater transparency to investors by offering real-time tracking through a bespoke-built platform maintained by the fund administrator.
The Dechert team was led by financial services partner Craig Borthwick and associate Dona Treska, with support from financial services partners Brenden Carroll and Neel Maitra; financial services counsel Laurel Neale; corporate associate Nicolas Kokkinos; tax partners Joseph Riley and Mansi Seth and associate Zhujing Wu.
Dona Treska said: “The future of finance is digital, and this significant launch, one of the first of its kind in the market, brings us a step closer to it.”
Satjeet Sahota, General Counsel, Chief Compliance Officer and Head of Special Projects at Fasanara said: “We are excited to launch our first tokenised money market. This marks a significant step in combining the stability of TradFi with the efficiencies and transparency of blockchain technology. We are delighted to partner with Dechert as our counsel on the evolving legal and compliance framework in this dynamic space.”
About Dechert
Dechert is a global law firm that advises asset managers, financial institutions and corporations on issues critical to managing their business and their capital – from high-stakes litigation to complex transactions and regulatory matters. We answer questions that seem unsolvable, develop deal structures that are new to the market and protect clients’ rights in extreme situations. Our nearly 1,000 lawyers across 19 offices globally focus on the financial services, private equity, private credit, real estate, life sciences and technology sectors.
View original content:https://www.prnewswire.co.uk/news-releases/dechert-advises-fasanara-capital-ltd-on-launch-of-first-tokenised-money-market-fund-302359631.html
Fintech PR
Global Promotional Itinerary Launched to Promote 8th CIIE
SHANGHAI, Jan. 24, 2025 /PRNewswire/ — Following the resounding success of the 7th China International Import Expo (CIIE), the CIIE Bureau has embarked on the global promotion of the 8th CIIE, scheduled for 2025, seeking to encourage further integration of enterprises into the vast Chinese market.
As returning participants of the CIIE, Germany, Denmark, and the Netherlands serve as the inaugural stops on the global promotional itinerary. During this journey, two promotional events were held separately — one at Dansk Industri in Denmark and the other at Yu Garden in Hamburg, Germany. A working meeting is scheduled to take place in Tilburg, the Netherlands.
With the exposure of business cooperation opportunities provided by the expo, German companies secured quite large exhibition space at the 7th CIIE, occupying over 26,000 square meters. Industry-leading enterprises such as Heraeus, SCHOTT and Merck made a strong impression in the newly established new materials zone, showcasing a diverse range of high-quality materials and cutting-edge technologies.
Danish innovation in green technologies and solutions shined at the 7th CIIE. Under the meticulous organization of Dansk Industri, there is a dual-booth setup booths themed around life science, health, and food, bringing 18 renowned brands to the forefront, highlighting attractive products and innovative solutions.
In previous editions of the CIIE, Dutch companies have showcased their expertise and innovation across various sectors, ranging from agriculture and consumer goods to semiconductors and healthcare. Alongside big Dutch companies like ASML and Philips, innovative SMEs and startups also actively involved in the 7th CIIE, including those specializing in the dairy industry.
The promotional events emphasized the vast potential of the Chinese market for enterprises from Germany, Denmark and the Netherlands. The newly released Report on the Media Coverage and Influence of the seventh China International Import Expo also demonstrates the expo’s substantial international influence by showcasing its unique openness, diverse highlights, fruitful cooperation outcomes, and multi-platform communication.
Visit CIIE official website for more information: https://www.ciie.org/zbh/en/?from=prnewswire
Contact: Ms. Cui Yan Tel.: 0086-21-968888 Email: exhibition@ciie.org
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View original content:https://www.prnewswire.co.uk/news-releases/global-promotional-itinerary-launched-to-promote-8th-ciie-302359594.html
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