Simpson Thacher represented Prime Data Centers (“Prime”) in connection with Grain Management, LLC’s (“Grain”), significant preferred equity investment in Data Realty Holding Corp., the founding and controlling shareholder of Prime. The investment provides structured, long-term capital to optimize the company's capital structure and position the platform for its next phase of expansion. Grain's investment also includes the ability to provide additional capital over time. Financial terms of the transaction were not disclosed.
Prime is a rapidly scaling international data center developer and operator providing mission-critical infrastructure to the world's leading hyperscale, AI / HPC, and enterprise customers. Prime has 7-gigawatts (GW) of operational and planned capacity across top-tier markets in the U.S. and Europe, including Chicago, Phoenix, Austin, Pittsburgh, Los Angeles, Silicon Valley, Frankfurt, Berlin, Helsinki, Esbjerg and Madrid.
Grain is a leading private investment firm focused on digital infrastructure and communications.
The Simpson Thacher team included Gabriel Silva, Hui Lin, Lia Toback, Enrique Güijosa, Tina Tang, John Hotes and Wade Landry (Corporate); and Kelly Karapetyan and Henry Llewellyn (Antitrust).