Singapore state investor GIC Pte Ltd and Canada’s La Caisse, formerly known as CDPQ, are also vying for the data centre company owned by private equity firm Bain Capital, the people said, asking not to be identified because the deliberations are private.

Bain may sell about 50% in Bridge Data Centres and roll over the remaining stake, the people said. A transaction could value the whole business at more than US$4 billion, they said.

Considerations are ongoing and no final decisions have been made, the people said, adding that the size of the stake and the valuation may also change.

Representatives for Sixth Street, La Caisse, GIC and Bain declined to comment, while SK Telecom and Bridge Data Centres didn’t immediately respond to requests seeking comment.

People familiar with the matter said in December that Bain was considering options including bringing in fresh backers for Bridge Data Centres, which it acquired in 2017. Bain tapped Citigroup Inc and JPMorgan Chase & Co to work on the transaction, separate people said later.

Global investors have been drawn to digital infrastructure assets because of the computing power required to support the boom in artificial intelligence. In January, Bain sold WinTrix DC Group’s China data-centre business in a deal worth about US$4 billion. Other investment firms are also exploring a sale of their platforms.

Bridge Data Centres has headquarters in Singapore and operates facilities in India, Malaysia and Thailand.

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