Stonepeak is expanding its focus on data centers by launching a new North American entity called Montera Infrastructure.
The new company will be backed by a $1.5 billion investment and focus on supporting artificial intelligence and cloud computing in the development and operation of turnkey build-to-suit data centers.
While the specific North American regions weren't revealed, a statement by Stonepeak noted that the targeted areas will be "tier I and tier II" metros. The plans call for operating and building facilities that can hold at least 100 megawatts of capacity.
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Stonepeak operating partner Eanna Murphy is listed as the founder and CEO of Montera. He previously served as a data center executive for Google and Yondr. Other founding executives of the firm include Craig Pennington and Joe Walsh, who were both formerly part of Oracle and Equinix. The trio brings over 100 years of experience in data center leadership roles.
"Eanna and his team have a track record of delivering more than eight gigawatts of data center capacity and have been at the forefront of helping design the infrastructure strategy of hyperscale customers, from model training and tuning to inferencing at scale," Andrew Thomas, senior managing director and head of digital infrastructure, global ex-Europe, at Stonepeak, said.
"We are excited to partner with them and bring to bear the experience and capabilities of Stonepeak’s leading digital and power franchises."
The move marks Stonepeak's fourth data center investment in North America and eighth globally. The New York-based firm operates more than 100 data centers, with over 500 megawatts of capacity, and has another 400 megawatts in development.
In 2024, a Colliers report found that the data center sector witnessed “historic absorption rates," attributed to AI's emergence. While there's been a lot of euphoria about the industry and future growth, the power deficit and strained resources have caused some challenges. To address this, investors and operators are turning to renewable energy sources including solar and wind.
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