Princeton Digital Group, a data center operator based in Singapore, is looking to secure a $400 million private-credit loan as it seeks to capitalize on the growing demand spurred by the artificial intelligence (AI) boom. The funds will be allocated towards capital expenditure and refinancing existing debt. The loan is expected to have a four-year term.

Currently, data center operators like Princeton Digital are increasingly seeking alternative funding sources outside of traditional bank loans, due to the surge in demand for data services. This demand has prompted a wave of investment from private equity firms in the Asia-Pacific region, with notable companies like Blackstone and KKR & Company actively investing in the data center sector.

Blackstone’s CEO, Steve Schwarzman, recently expressed the firm’s readiness to increase its investments related to AI, referencing their substantial acquisition of AirTrunk Pte., an Australian data center operator, made last year.

Founded in 2017, Princeton Digital operates over 20 data centers across Asia, including locations in China, India, and Japan. Warburg Pincus has been a significant investor in the company, helping to establish it alongside founder Rangu Salgame.

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