Partners Group agrees to buy majority stake in AVK Power Solutions

Partners Group has agreed to acquire a majority stake in AVK Power Solutions and plans to initially invest more than $1 billion of equity, supplemented by debt financing. AVK's management team will retain a minority stake.

AVK designs, installs and maintains backup generation, behind-the-meter infrastructure, microgrids and modular electrical power units. It operates across major European data center markets including Frankfurt, London, Amsterdam, Paris and Dublin, and has installed about 3.5 GW of power.

Partners Group plans to turn AVK into an infrastructure platform offering long-term Energy-as-a-Service, under which it could build and own energy assets and sign long-term contracts to supply data center customers. The company has a pipeline of more than 2 GW of behind-the-meter opportunities. Partners Group is investing through its fourth direct infrastructure program, which recently closed with over $15 billion.