Press release | 03 May 2022
Corporate Banking

Berenberg Supports Refinancing of Angelo Gordon’s AMS3 Data Center in Amsterdam

Financing Builds on Berenberg Digital Infrastructure Debt Fund’s Track Record
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Amsterdam/Hamburg. Private bank Berenberg is pleased to announce that Berenberg Digital Infrastructure Fund (the “Fund”) recently provided a unitranche financing to support the operational enhancement of Angelo Gordon’s AMS3 Data Center in Amsterdam. Berenberg acts as advisor to the Fund, and this marks Berenberg’s first transaction with global alternative investment firm Angelo Gordon.

Angelo Gordon acquired a majority stake in the AMS3 Data Center in July 2021 via a joint venture with Amsterdam-based data center developer and operator Switch Datacenters. In addition to being attractively located, AMS3 benefits from Switch Datacenters’ revolutionary cooling concept, which has improved the data center’s energy efficiency.

“With their deep lending expertise and experience in the data center space, the Berenberg team was quickly able to develop a strong understanding of our business plan for this project, and we greatly enjoyed working with them,” said Jack Laarakkers, Associate, Europe Real Estate at Angelo Gordon. “Given the persistent growth in demand for data centers, we believe the opportunity set within this sector remains robust, and we look forward to continuing to work with our best-in-class operating partners to identify and invest in well-located properties in the Netherlands and across Europe more broadly.”

“We are pleased to provide this unitranche financing for AMS3,” said Torsten Heidemann, Head of Infrastructure & Energy at Berenberg. “Angelo Gordon is a highly experienced investor and, together with Switch Datacenters, has developed a very attractive asset. Along with London, Frankfurt, and Paris, Amsterdam is one of the most important European data center locations due to its access to international internet connection points like AMS-IX, and this financing aligns with our focus on resource efficient projects in prime locations with professional partners.”

Berenberg provides unitranche and mezzanine financing for data centers and glass fiber networks in northern and western Europe via Berenberg Digital Infrastructure Fund, which is still in its investment phase. This financing for the AMS3 Data Center matches the core business of the Fund and builds on Berenberg’s track record of providing data center financings in Europe.

About Berenberg

Berenberg was founded in 1590 and is today one of Europe's leading private banks with its Wealth and Asset Management, Investment Bank and Corporate Banking divisions. The Hamburg-based bank is managed by general partners and has a strong presence in the financial centres of Frankfurt, London and New York. The Infrastructure & Energy business segment, which is part of Corporate Banking, advises clients and investors on all transaction, financing and project-related issues. Under the names Berenberg Green Energy Junior Debt Fund I, II and III as well as Berenberg Digital Infrastructure Debt Fund I, Germany's oldest private bank has already launched four junior debt funds for professional investors with a total volume of around EUR 700 million. The funds finance renewable energy investments in OECD countries and digital infrastructure projects in western and northern Europe.

About Angelo, Gordon & Co., L.P.

Angelo, Gordon & Co., L.P. (“Angelo Gordon”) is a privately held alternative investment firm founded in November 1988. The firm currently manages approximately $51 billion with a primary focus on credit and real estate strategies. Angelo Gordon has over 600 employees, including more than 200 investment professionals, and is headquartered in New York, with associated offices elsewhere in the U.S., Europe, and Asia. For more information, visit www.angelogordon.com.

About Switch Datacenters

With over a decade of experience designing, building, running, and operationalizing data centers in Amsterdam – one of the most competitive data center markets in the world – Switch Datacenters is equipped to provide the solutions professional data center users need. As a private company with a deeply experienced, innovative, and entrepreneurial team, Switch Datacenters designs, builds, and operates reliable, sustainable next-generation data centers in a smart way and in smart locations.

Contact

Sandra Hülsmann
Press Officer
Phone +49 40 350 60-8357