A consortium, led by U.S.-based investment firm KKR with Singapore’s Singtel, has completed its acquisition of Singapore’s STT GDC, taking full ownership of the data-center operator, STT GDC said in a statement on Wednesday.

The transaction is valued at S$13.8 billion ($10.9 billion), according to KKR’s statement in February. According to KKR’s statement in February, it would buy the remaining 82 percent stake in STT GDC from founding shareholder ST Telemedia for a total consideration of S$6.6 billion.

KKR and Singtel said in the February that they would hold 75 percent and 25 percent respectively on completion. The consortium had first invested S$1.75 billion in STT GDC in 2024 through preference shares and warrants. Its pipeline had since grown from 1.4 GW to more than 1.7 GW.

STT GDC said the completion gave it long-term capital and greater financial flexibility to grow, with its leadership team, operating approach and strategy unchanged. Its operational capacity had grown 25 percent since the end of 2025 to 780 MW, with contracted capacity up 50 percent, thanks to demand from hyperscalers, cloud providers, AI customers, and enterprises.

It said it had secured close to 2 GW of powered land for projects under construction and in its pipeline.

STT GDC, established in 2014 and based in Singapore, provides data-center colocation, connectivity, and support services across Asia, Britain, and Europe, targeting hyperscalers, cloud providers, and enterprises. STT GDC now operates 34 data centers across 10 Indian cities with more than 613 MW of capacity, is advancing more than 360 MW of pipeline at its Jakarta campus in Indonesia, and was selected to develop 50 MW of capacity in Singapore.

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