Cologix single-asset continuation recapitalization

Stonepeak completed a $3 billion equity-value recapitalization of Cologix on 4 April 2022. Infrastructure Fund II and co-investors sold the business to Stonepeak-managed vehicles that combined reinvesting existing investors with new third-party capital. Mubadala exited its investment through this recapitalization. Stonepeak had first acquired a majority stake in March 2017, with Mubadala adding growth capital in January 2020. Cologix also completed a separate $1.65 billion asset-backed securitization earlier in 2022. The transactions financed its North American interconnection and hyperscale-edge data-center expansion. Goldman Sachs advised Stonepeak and RBC advised Fund II; Simpson Thacher acted as legal counsel. The continuation structure preserves Stonepeak management while distinguishing the selling and buying vehicles.