Everstone Group’s USD1 Billion Partnership with Yondr Group

Morrison & Foerster advised Everstone Group on the deal and White & Case LLP has advised Yondr.

Yondr Group, a global leader, developer, owner operator and service provider of hyperscale data centers, formed a strategic joint venture partnership with Everstone Group (Everstone). Operating under the brand name EverYondr, the first facility located in the Mumbai Metropolitan Region, for which land and power have already been acquired, will deliver 30MW by 2023 and 60MW of IT capacity when fully developed.

Everstone is a leading private investment firm across private equity, real estate, green infrastructure, credit and venture capital. Its real estate arm, Indospace, is India’s largest industrial real estate developer in India with over 47 million square feet under development.

Yondr is a privately owned data center developer, owner operator with a significant track record in delivering hyperscale capacity with presence in Europe, the Asia-Pacific region and the Americas.

The joint venture, with an initial capitalisation of USD 1 billion will support hyperscale clients and service the rapidly growing Indian market, the size of which is projected to exceed USD 4.5 billion by 2025. The investment will be used to fund the development and operation of multi-locational hyperscale data center business across important geographies in India, including but not restricted to the metros of Mumbai Metropolitan Region, Hyderabad, Bangalore, Chennai and National Capital Region (Delhi).

Starting with the Mumbai Metropolitan Region, the venture will deliver a portfolio of facilities at true hyperscale, significantly propelling India’s IT and power capacity to meet the growing demand from public cloud providers and end users at scale.

Yondr Group is a developer, owner operator and service provider of hyperscale data centers. The company’s mission is to meet growing businesses’ data center capacity and technical real estate needs faster, more elegantly and with better performance outcomes than anyone else.

Singapore headquartered Everstone is one of Asia’s premier investment firms. The firm has assets in excess of US$6 billion across private equity, real estate, infrastructure credit, and venture capital.

The Morrison & Foerster team advising the Everstone Group was led by Singapore partners Shirin Tang (Picture) and Paul Davis and Singapore associate Mark Tay.

The White & Case team which advised on the transaction was led by partner Tabitha Saw (Singapore) and included partner James Dodsworth (London) and associate Lisa Yeo (Singapore).

Involved fees earner: Paul Davis – Morrison & Foerster; Shirin Tang – Morrison & Foerster; Mark Tay – Morrison & Foerster; James Dodsworth – White & Case; Tabitha Saw – White & Case; Lisa Yeo – White & Case;

Law Firms: Morrison & Foerster; White & Case;

Clients: Everstone Group; Yondr;

Author: Sonia Carcano