On June 20, 2023, Brookfield Infrastructure Partners L.P. and Ontario Teachers’ Pension Plan entered into a definitive agreement to acquire Compass Datacenters, LLC from RedBird Capital Partners and Azrieli Group. The acquisition underscores Compass’s rapid growth, particularly in its North American mega campuses, and its recognition as one of Inc. Magazine’s 5000 fastest-growing companies for three consecutive years. Brookfield Infrastructure and Ontario Teachers’ will provide operational and financial support to further Compass’s expansion in sustainable, large-scale data center campuses. The existing Compass management team, led by Founder and CEO Chris Crosby, will continue to lead the company post-transaction.

The transaction value was not disclosed, and it is expected to close by year-end, subject to regulatory approvals.

Goldman Sachs & Co. LLC and Guggenheim Securities, LLC acted as joint financial advisors to Compass and RedBird, with Deutsche Bank Securities Inc. as debt financing advisor. Brookfield Infrastructure was advised by BMO Capital Markets, Scotiabank, and Kirkland & Ellis LLP, while Ontario Teachers’ was advised by TD Securities and Paul, Weiss, Rifkind, Wharton & Garrison LLP. Compass and its management received legal counsel from Fried, Frank, Harris, Shriver & Jacobson LLP, Wick Phillips, LLP, and DLA Piper. RedBird was advised by Fried Frank.