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A fund managed by George Soros’ family office has made a big sale in the European data centre sector.
Quantum Strategic Partners sold Zenium Data Centres for $442M (£328M) to U.S. specialist CyrusOne, as supply in the sector continues to expand.
Zenium owns four data centres, two in London and two in Frankfurt, totalling 260K SF.
Quantum first backed Zenium in December 2013. Zenium is led by founder and Chief Executive Franek Sodzawiczny and Global Sales and Marketing Director Matt Pullen, who was previously head of global corporate for Europe at CBRE.
The price paid by CyrusOne represents an 18-times multiple to EBITDA.
According to estimates by CBRE, European data centre supply increased 20% in 2017, but take-up was expected to drop by around 20%.
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