Fintech PR

Starwood Capital Group Unveils Strategic Investment in Echelon Data Centres

Published

10 months ago

February 15, 2024

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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
[email protected] or [email protected]

For Echelon Data Centres:

Craig McKechnie | 4TC | +353 (0)87 621 8839 | [email protected]
Jeremy Probert | 4TC | +353 (0)89 700 0792 | [email protected]

Echelon Image Resources are available here:

https://echelon-dc.com/media-resources/

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Fintech PR

iFOREX Engages La Liga Fans Across the GCC

Published

56 minutes ago

November 28, 2024

CISION (PR Newswire)

TORTOLA, British Virgin Islands, Nov. 28, 2024 /PRNewswire/ — Fans across the GCC will see the iFOREX brand displayed prominently during thrilling La Liga matches. As viewers cheer on Real Madrid, FC Barcelona, and their other favorite teams, iFOREX is proud to connect with football fans throughout the region by showcasing its brand and commitment to empowering traders. This increased visibility underscores iFOREX’s dedication to supporting traders in the GCC and inviting them to explore new opportunities in online trading.

Trade with Confidence and Precision

In today’s fast-paced financial world, staying informed and prepared is essential for trading success. With iFOREX, traders gain access to a comprehensive suite of tools designed to help them make informed decisions, from novices entering the field to experienced traders crafting advanced strategies.

“At iFOREX, we don’t just offer tools—we offer a community,” says Khalid al-Ali, Head of Customer Relations for the GCC region. “We’re committed to ensuring every trader, regardless of experience level, feels supported and equipped to succeed. Our platform provides real-time insights and professional guidance, helping traders tackle challenges and sharpen their skills.”

Key Features of iFOREX

Instant Access to Market Insights: iFOREX provides a wide range of resources, enabling traders to access valuable insights on-demand. From understanding market fundamentals to learning effective strategies, iFOREX supports traders at every step.

Designed for All Experience Levels: Whether you’re new to trading or a seasoned professional, iFOREX’s user-friendly platform makes it easy to navigate, learn, and succeed.

Real-Time Market Data: Just as a coordinated football team relies on precision, iFOREX delivers timely market data to streamline trading decisions, helping you stay ahead of market trends.

Extensive Educational Resources: iFOREX offers a wealth of educational materials and analysis, empowering traders to confidently navigate the evolving financial landscape.

Join the iFOREX Community

As La Liga’s excitement unfolds, iFOREX invites traders to experience the thrill of trading CFDs on forex, shares, and cryptocurrencies, backed by live commentary and strategy insights. Don’t miss this opportunity to elevate your trading game with iFOREX’s unmatched resources and support.

About iFOREX

With over 25 years in the industry, iFOREX is a trusted provider of online trading services, offering a range of financial instruments and tools designed to support traders’ success. iFOREX’s mission is to empower traders with the knowledge, resources, and confidence they need to excel in today’s fast-paced market.

https://www.iforex.eu/

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Fintech PR

Transform Without the Cost: NTT DATA Business Solutions Brings ‘ZERO Cost Move’ to UKISUG Connect 2024

Published

56 minutes ago

November 28, 2024

CISION (PR Newswire)

LONDON, Nov. 28, 2024 /PRNewswire/ — NTT DATA Business Solutions is set to bring its game changing ‘ZERO Cost Move’ to the UKISUG Connect 2024 Conference in Birmingham from 01 – 03 December 2024. This independent offering from NTT DATA Business Solutions is designed to eliminate the financial barriers associated with transitioning to the RISE with SAP solution, offering a fully funded technical migration so that organisations can focus their investment on transformative projects that deliver real business value.

In a competitive landscape where innovation is crucial, the ZERO Cost Move redefines SAP software migration as a strategic advantage rather than a financial burden. By covering all technical migration costs, NTT DATA enables businesses to allocate budgets toward initiatives that enhance operational efficiency and overall growth.

“We’re helping our customers unlock new potential by removing the SAP software migration costs that have historically held them back,” says Jon Gregory, Director – Business Development & Advisory Services, NTT DATA Business Solutions. “The ZERO Cost Move is a commitment to our clients’ success, allowing them to deploy RISE with SAP confidently while refocusing their budgets from the technical move to their priority initiatives that really unlock business value.”

Key Benefits of the ZERO Cost Move:

No-Cost Technical Migration: NTT DATA manages the complete migration from SAP ERP Central Component or SAP S/4HANA on-premise to RISE with SAP, freeing up resources for innovation and growth.
Proven SAP Expertise: With extensive global experience in projects involving SAP S/4HANA, our team ensures a seamless, efficient transition, reducing risks and accelerating time to value.
Fast, Risk-Free Transition: Our Technical Conversion Centre of Excellence for SAP S/4HANA streamlines the migration process, providing a rapid, low-risk pathway to RISE with SAP.
Focus on Strategic Business Value: Businesses invest saved migration costs into initiatives that align with their highest priorities – from Artificial Intelligence and GenAI, to automation, organisational change management, testing, analytics and more.

“We are excited to redefine what a migration can mean for businesses,” states Christopher Gabriel, Chief Marketing Officer and VP of Innovation, NTT DATA Business Solutions. “With a ZERO Cost Move to RISE with SAP, we remove consulting fees for your technical migration, breaking down barriers to transformation and enabling valuable resources to be redirected toward game-changing digital innovation.”

Meet with Us at UKISUG Connect 2024

As a Gold sponsor, NTT DATA Business Solutions will be at Stand G12 throughout the conference to discuss the benefits of the ZERO Cost Move offer. Delegates are also invited to attend our presentation, “RISE to Innovation with NTT DATA Business Solutions,” delivered by Jon Gregory on Monday 2nd December, from 2:30 PM to 3:00 PM in the Cloud ERP Stream (Exec 1). The session will explore how the ZERO Cost Move can help businesses achieve a seamless transition to RISE with SAP and unlock new opportunities for digital innovation.

About NTT DATA Business Solutions

NTT DATA Business Solutions is a leading global IT service provider focused on SAP with a powerful ecosystem of partners. With more than 35 years of in-depth experience, we enable companies worldwide to become Intelligent Enterprises. We deliver end-to-end solutions that accelerate sustainable growth and success – from strategic consulting and implementation to managed services and beyond. As a global strategic SAP partner, we drive innovation and leverage the latest technologies to support our customers individually and across all industries. Our more than 15,300 dedicated employees in over 30 countries work passionately every day to make it happen.

NTT DATA Business Solutions is part of NTT DATA, a $30+ billion trusted global innovator of business and technology services headquartered in Tokyo. As One NTT DATA we serve 75% of the Fortune Global 100 and are committed to helping customers innovate, optimize and transform for long-term success. NTT DATA is part of NTT Group.

Press Contact NTT DATA Business Solutions
Local: Carl Adams
Marketing Director UK&I
NTT DATA Business Solutions UK&I
12 Gough Sq, London, EC4A 3DW
T: +44 (0) 0207 832 1800
E-mail: [email protected]

Global: Jasmin Straeter
Head of Global Communications
NTT DATA Business Solutions AG
Königsbreede 1, 33605 Bielefeld, Germany
T: +49 521 9 14 48 108
Email: [email protected]

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Fintech PR

BingX Partners with SafePal to Enhance Liquidity and Crypto Trading Accessibility

Published

2 hours ago

November 28, 2024

CISION (PR Newswire)

bingx-partners-with-safepal-to-enhance-liquidity-and-crypto-trading-accessibility

VILNIUS, Lithuania, Nov. 28, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is pleased to announce its partnership with SafePal, a next-generation non-custodial crypto wallet suite. SafePal, known for its unique hybrid approach to empowering DeFi and CeFi over a hundred blockchains, joins forces with BingX to enhance liquidity, elevate user experience, and expand access to innovative blockchain services for traders worldwide. This collaboration also marks a significant advancement in the BingX Global Broker Program, reinforcing its commitment to building a more interconnected and efficient trading ecosystem.

Vivien Lin, Chief Product Officer of BingX, expressed enthusiasm for this development: “SafePal will serve as an independent broker under the BingX Exchange Broker Program, indicating our rapid adoption and growth. Our partnership with SafePal is a pivotal step in reshaping how users access liquidity and seamless trading experiences. By integrating BingX’s advanced liquidity solutions with SafePal’s wallet ecosystem, we’re setting a new standard for broker integration and empowering users with unparalleled tools for trading success.”

This integration brings enhanced open API functionalities for spot, contract, and strategic trading, along with upgraded financial products. By merging BingX’s liquidity expertise with SafePal’s decentralized platform, the partnership delivers an elevated trading experience for users. It reflects BingX’s commitment to fostering broker collaborations while expanding its ecosystem. Additionally, the move underscores BingX’s forward-looking strategy to strengthen partnerships and broaden its impact within the broker ecosystem.

The BingX Global Broker Program has played a key role in building global partnerships and enhancing accessibility to cryptocurrency trading. By consistently delivering exceptional value to its users and broker partners, BingX has solidified its reputation as an industry leader. With the program’s latest upgrades and strategic collaborations like the partnership with SafePal, BingX is shaping a more interconnected, efficient, and user-focused cryptocurrency trading ecosystem. As part of its vision, BingX welcomes more broker platforms to join its efforts in driving innovation and advancing the future of decentralized finance.

About BingX

Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/