Australian pension fund Aware Super has expanded its exposure to Asia-Pacific data centers with a $300 million investment. The capital flows through the Skyline data center joint venture, which holds an indirect stake in Vantage Data Centres APAC. This move reflects Aware Super’s continued push into digital infrastructure as cloud and AI demand accelerates across the region.
Currently, the Skyline platform operates 10 data centers across Australia, Japan, Taiwan, Malaysia, and Hong Kong. Through this investment, the platform gains additional scale in high-growth markets. In many of these locations, hyperscale capacity remains constrained, which strengthens the long-term investment case.
Strengthening a Longstanding DigitalBridge Partnership
At the same time, the transaction deepens Aware Super’s relationship with DigitalBridge. Notably, the fund previously partnered with IFM Investors in DigitalBridge’s $11 billion acquisition of Switch in 2022. Since then, Aware Super has steadily increased its allocation to digital infrastructure.
As a result, the fund’s global exposure now totals roughly A$6 billion. This portfolio spans the United States, Europe, Australasia, and Asia. According to Mark Hector, Aware Super’s head of infrastructure, this geographic expansion reflects deliberate strategy rather than opportunistic growth.
In comments to IPE Real Assets, Hector explained that the fund first built scale in North America, Europe, and Australasia. Subsequently, Asia emerged as the next priority market. Consequently, Asia-Pacific now plays a central role in Aware Super’s long-term infrastructure thesis.
Why Asia-Pacific Remains Structurally Attractive
Several structural factors underpin this focus. Despite hosting most of the world’s population, Asia still lags in data center capacity on a per-capita basis. Meanwhile, enterprise digitization and consumer technology adoption continue to accelerate across the region.
In addition, parts of Asia offer more favorable access to land and power than Europe. These conditions support new data center developments at scale. Therefore, investors see sustained runway for capacity expansion, especially as AI workloads increase.
Nevertheless, Aware Super acknowledges the risks of AI-driven overinvestment. The fund continues to emphasize diversification across regions and asset classes. Even so, digital infrastructure represents just over 25 percent of its broader infrastructure portfolio. Moreover, Hector stressed that valuation discipline remains critical as demand dynamics evolve.
Platform Momentum and Expansion Outlook
From DigitalBridge’s perspective, the deal reinforces its Asia-Pacific strategy. Kevin Smithen, chief strategy officer at DigitalBridge, said the firm welcomed the chance to deepen its partnership with Aware Super. He added that the region ranks among the fastest-growing global data center markets.
Operationally, momentum across Vantage Data Centres APAC remains strong. Jeremy Deutsch, president of the platform, said regional growth continues at an exceptional pace. With sustained backing from institutional investors, the company plans to expand capacity across key Asia-Pacific markets. Importantly, these expansions align closely with customer demand for cloud and AI infrastructure.
