Affiliates of New York-based Wafra Inc. will acquire a minority stake in Digital Colony, the digital investment management division of Colony Capital.
Wafra is expected to plow more than $400 million into the Digital Colony platform, including permanent capital to pursue investments in cell towers, data centers, fiber, and small cells.
"We are thrilled to welcome Wafra as a strategic investor in Digital Colony," Marc Ganzi, CEO of Colony Capital, said in a prepared statement. "This investment will build on our successful early investments together, while accelerating Colony Capital's long-term growth strategy."
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Cheryl Miller
Cheryl Miller, based in Sacramento, covers the state legislature and emerging industries, including autonomous vehicles and marijuana. She authors the weekly cannabis newsletter Higher Law. Contact her at [email protected]. On Twitter: @CapitalAccounts
