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Woori-Natixis invests $150m in US data centers
By Choi Ji-won, The Korea Herald - South Korean banking giant Woori Financial Group has invested $150 million in two US data centers in partnership with French investment bank Natixis.
The investment marks the first move under the strategic alliance between the two companies, signed in June 2024, to jointly establish a global private debt fund.
The funds were directed towards data centers in Arizona and Virginia, with respective capacities of 176 megawatts and 110 megawatts. Both facilities are secured under 15-year lease agreements with e-commerce giant Amazon.
Woori attributed the investment to a collaboration that combines Woori PE Asset Management’s experience in managing global funds and Woori Bank’s investment expertise, bolstered by Natixis’ international network and private debt capabilities.
The move aligns with the anticipated rise in US protectionism under the "America First" policy of incoming President Donald Trump, which is expected to intensify trade barriers and push foreign firms to adapt strategies to expand US investments.
The US data center market is positioned for significant growth, bolstered by cloud computing and digital transformation, Woori added. Arizona and Virginia are emerging as key hubs, with strong demand and minimal vacancy. Virginia has a 1 percent vacancy rate, while Phoenix, Arizona, — the sixth-largest US data center market — has a vacancy rate of just 3 percent.
Looking ahead, Woori plans to expand its joint private debt fund with Natixis to $1.5 billion over the next three years.
