The Evolving Global Digital Infrastructure: Data Centers, AI, and the Next Wave of Connectivity

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  John Ghirardelli

  Executive Director

  Morgan Stanley

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  Kai Golden

  As Director of Hydra Financial, Kai Golden is responsible for connecting GPU deployments with investors across the capital stack. Kai previously served as an associate at Variant Investments, a $3 billion private credit fund, where he invested in asset-backed credit across litigation finance, AI infrastructure, hospitality, and fintech. Prior to that, Kai co-founded Belay, a fintech focused on income stability within the gig economy. In his free time, Kai enjoys producing music and practicing Muay Thai in Miami. Kai holds a BA in International Relations and Economics from Tulane University.

  Hydra Financial

  Director

  Kai Golden

  Director

  Hydra Financial

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  Diana Liu

  Diana Liu joined Blue Owl Capital via its acquisition of IPI Partners in January 2025. She is a Principal on the Blue Owl Digital Infrastructure Investment Team, with an additional focus on capital markets across the global footprint. Diana has been investing in data centers for over a decade; she joined IPI from Deutsche Bank’s Global Markets division, where she focused on principal debt investments within the digital infrastructure sector. Diana earned a BSE from Princeton University with a concentration in Operations Research and Financial Engineering and certificates in Applications in Computing and Finance.

  Blue Owl Capital

  Principal

  Diana Liu

  Principal

  Blue Owl Capital

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  Jeffrey Moerdler

  Jeff Moerdler is chair of the Haynes Boone Data Center and Digital Infrastructure Practice and a real estate partner in the New York office. He has more than 40 years’ experience in general commercial real estate law. Jeff’s real estate practice includes acquisitions, sales, development, leasing, and borrower’s side financing. Jeff also has a particular focus on real estate challenges facing communications, technology and energy companies, and represents property owners and telecom companies in telecom real estate matters, particularly in data center development, acquisitions, sales, leases, colocation agreements and service level agreements. His clients include both large national companies and smaller, local clients, and includes representation of landlords and tenants in all types of leases; counseling owners and developers in the acquisition, sale, joint venture, development, and renovation of property as well as sale-leaseback transactions; advising lenders and borrowers in commercial loans; and the representation of all parties in real estate litigation. He is actively involved in settling real estate, partnership, and inter-family disputes. He also represents many not-for-profit entities and is active in health care, senior living, and educational real estate.

  Haynes and Boone, LLP

  Partner & Chair, Data Center & Digital Infrastructure

  Jeffrey Moerdler

  Partner & Chair, Data Center & Digital Infrastructure

  Haynes and Boone, LLP

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  Sapna Sirohi

  Sapna is a managing director in Infrastructure within Goldman Sachs Asset Management. She joined Goldman Sachs in 2013 as an analyst in Merchant Banking Division and was named managing director in 2023. Prior to joining the firm, Sapna worked at Lazard as an analyst on the M&A advisory team. Sapna serves as a director on the board of Calisen, UK's largest smart metering business, and ImOn, a US-based provider of fiber-based telecommunications services to residents and businesses. Sapna earned a BSc in Statistics from the University of Delhi and an MSc in Financial Economics from University of Oxford.

  Goldman Sachs

  MD, Infrastructure Investing

  Sapna Sirohi

  MD, Infrastructure Investing

  Goldman Sachs

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  Carson Kearl

  As an Analyst on the Enverus Intelligence® | Research (EIR), Carson is the lead on AI Infrastructure and nuclear energy technologies. He was previously a commodities analyst and has additional experience advising large industrial consumers on their energy consumption. His education in economics at the University of Alberta focused on power markets.

  Enverus Intelligence Research

  Senior Power Analyst

  Moderator

  Carson Kearl

  Senior Power Analyst

  Enverus Intelligence Research

From Capital to Concrete: Translating Investment into Data Center Construction

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  Brian Chen

  Brian is the Vice President at Stewart Title’s National Commercial Services group, where he and his team provide title insurance solutions for complex transactions across the United States. With over ten years of experience in the energy sector, Brian specializes in development, construction, and operations. He is an active member of the Houston community, co-founding the Renewable Energy Alliance (REAL) Houston and serving on its Board of Directors. Before his career in the energy industry, Brian served in the U.S. Army and completed a tour in Afghanistan.

  Stewart Title

  VP

  Brian Chen

  VP

  Stewart Title

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  Christian Deputy

  Christian has over 20 years of experience in the commercial insurance brokerage industry. He has held various leadership positions including Chief Sales Officer and President. He is dedicated to helping organizations grow and build value. As a relationship-focused leader, Christian engages with people to understand their needs and builds teams capable of creatively solving problems. His extensive experience spans start-ups, non-profits, and multi-billion dollar public and private organizations. Christian has consulted numerous mergers and acquisitions. He also has vast expertise working with Digital Infrastructure and Technology companies, helping them navigate complex insurance environments and implement innovative risk management solutions.

  Lockton Companies

  President, Utah

  Christian Deputy

  President, Utah

  Lockton Companies

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  Dave Ferdman

  President & Managing Director

  Primary Digital Infrastructure

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  John Regan

  John Regan serves as the Chief Investment Officer and has been in the technology and facilities infrastructure space for over three decades. In his most recent role as SVP of Acquisitions and CTO for Landmark Dividend, he executed on over a $1 billion in Digital Infrastructure acquisitions. Prior to Landmark, Mr. Regan worked with Carter Validus (CV) Advisors where he was instrumental in the development and execution of the CV Mission Critical REIT I & II data center platforms from inception. Mr. Regan made CV’s first acquisition in July 2011. By October 2017, pipeline development and management led to closing of over 50 deals, amassing $2 billion of data center assets totaling more than 4.5 million square feet. Mr. Regan is a data center industry leader frequently speaking and moderating at conferences across the U.S. having a number of articles published by and about him. Mr. Regan’s experience spans over 35 years within information technology, facilities infrastructure, business development, sales and acquisitions serving in various leadership positions while also providing advisory services and consulting for multiple startups. Mr. Regan served in leadership positions for 18 years with PWC, LLP as National Director of Data Center Services, National Director of Network Services, and Director of Infrastructure Delivery. In these roles, Mr. Regan led technology and facilities infrastructure engineers and project managers through the execution of more than 26 million square feet of real estate projects spanning renovations, restacks, retrofits, consolidations, new builds and the merger of technology and facility infrastructure of Coopers & Lybrand and Price Waterhouse. Mr. Regan achieved recognition by ComputerWorld for PWC as the number one Green IT organization worldwide in 2010 after the completion of a state-of-the-art Tier III LEED Gold-certified data center and driving other conservation practices organizationally. Mr. Regan is also an expert in BCDR having developed and executed a multi-tiered program creating PWC’s firm-wide Disaster Recovery program. Mr. Regan has a bachelor’s degree in Accounting from St. Leo University where he graduated Magna Cum Laude. Mr. Regan holds several certifications in the infrastructure space having achieved Accredited Tier Specialist (ATS), Information Technology Infrastructure Library (ITIL) and Certified Business Continuity Professional (CBCP) credentials. He holds multiple certifications and various systems designations through Digital Equipment Corporation, Research Triangle Institute, and NCSU.

  Carter Funds

  Chief Investment Officer

  John Regan

  Chief Investment Officer

  Carter Funds

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  Paul Stupka

  Paul Stupka, Senior Vice President at Clune Construction, embarked on his journey with the firm in 1998 as an Intern. The hands-on experience he gained at Clune further grew his interest in Construction Management, and upon graduating, Paul accepted a full-time position in the firm’s Chicago office. For the first nine years of his career, Paul worked on large-scale tenant improvement projects across the Chicagoland area. In 2010, he redirected his focus towards MEP endeavors, before delving deeper into the Mission Critical sector in 2011. This temporary shift soon became permanent, and he relocated to Clune’s Washington, DC office in 2015 to spearhead the Mission Critical department in the Northern Virginia market. Known in the industry as a trustworthy, knowledgeable and informed leader, Paul has been instrumental in Clune’s success in the Mission Critical sector. He is passionate about challenging the status quo and broadening the definition of “what Clune can do.” Paul has a Bachelor of Engineering in Civil Engineering from Marquette University. He is an active member and mentor in several professional organizations, including the 7 X 24 Exchange’s Washington DC Regional Chapter. In his spare time, he volunteers at various fundraising events and is involved in his children’s music and sports organizations.

  Clune Construction

  Project Executive

  Paul Stupka

  Project Executive

  Clune Construction

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  James Grice

  James Grice, co-leader of the global Data Centers and Digital Infrastructure Team, works with clients in high-growth potential industries, advising on transactions and projects around the world. Beyond his deep experience in general commercial real estate, Jim has distinguished himself in the data center and renewable energy sectors. No matter where his clients need him - or what they need - Jim skillfully pairs his intimate understanding of project finance with his exceptional experience with tax incentives to help clients structure deals to their best advantage. Public companies, REITs, private equity firms and real estate companies of all sizes rely on Jim to help them efficiently and effectively work through the many facets of their complex projects. Whether it be addressing state and local tax issues or working through the maze of entitlements, permitting and environmental approvals, Jim adeptly guides clients to great results.

  Akerman

  Chair, Data Centers & Digital Infrastructure Practice

  Moderator

  James Grice

  Chair, Data Centers & Digital Infrastructure Practice

  Akerman

Presentation: Top Ten Data Center Legal and Business Issues for Powered Land, Leases and MSA's That You Should Know About

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  Jeffrey Moerdler

  Jeff Moerdler is chair of the Haynes Boone Data Center and Digital Infrastructure Practice and a real estate partner in the New York office. He has more than 40 years’ experience in general commercial real estate law. Jeff’s real estate practice includes acquisitions, sales, development, leasing, and borrower’s side financing. Jeff also has a particular focus on real estate challenges facing communications, technology and energy companies, and represents property owners and telecom companies in telecom real estate matters, particularly in data center development, acquisitions, sales, leases, colocation agreements and service level agreements. His clients include both large national companies and smaller, local clients, and includes representation of landlords and tenants in all types of leases; counseling owners and developers in the acquisition, sale, joint venture, development, and renovation of property as well as sale-leaseback transactions; advising lenders and borrowers in commercial loans; and the representation of all parties in real estate litigation. He is actively involved in settling real estate, partnership, and inter-family disputes. He also represents many not-for-profit entities and is active in health care, senior living, and educational real estate.

  Haynes and Boone, LLP

  Partner & Chair, Data Center & Digital Infrastructure

  Presenter

  Jeffrey Moerdler

  Partner & Chair, Data Center & Digital Infrastructure

  Haynes and Boone, LLP

Capital Strategies in a Shifting Market: Debt, Equity, Fundraising, & JV Approaches for 2025

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  Jiri Honajzer

  VP, Infrastructure Investments

  Brookfield Asset Management

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  Kristin O'Connor Leung

  Head of North American Investments

  Cloud Capital

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  Adam Krupp

  Mr. Krupp is responsible for capital formation, strategic joint venture partnerships, and spearheads Wharton Digital Ventures’ Data Center platform. During his over 35-year career, Mr. Krupp has been involved in all facets of real estate, including acquisition, development, construction, leasing, asset management, and capital raising. Working both entrepreneurially and with well-established firms including Waterton Residential, CS Technology, Grubb & Ellis, and The Glick Organization he has been involved with the acquisition and development of over $3 billion worth of properties across a broad array of asset classes. As pertains to WDV’s Data Center vertical, Mr. Krupp brings 15 years of experience in the siting, design and construction of high reliability and sustainable mission critical data centers for some of the world’s largest financial services and technology companies including Bank of America, AIG, Digital Realty Trust and CRG West (the predecessor of CoreSite). He has been instrumental in the firm’s acquisition and development of both utility power and “behind the meter” data center projects ranging from 80MW to 1.3GW. Mr. Krupp received his Master of Science in Real Estate Development & Investment degree from New York University’s Shack Real Estate Institute, and his Bachelor of Arts from the University of Michigan, Ann Arbor.

  Wharton Equity Partners

  Managing Director

  Adam Krupp

  Managing Director

  Wharton Equity Partners

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  Rachel Silverstein

  Rachel Silverstein is Bitfarms’ Global General Counsel specializing in digital asset transactions, including commercial agreements, mergers, acquisitions, and energy deals. With over 16 years of experience, Rachel oversees all legal affairs in the US and advises on regulatory compliance, corporate governance, and strategic initiatives. Prior to Bitfarms, Rachel co-founded Firm 21m, a law firm dedicated to representing Bitcoin miners, energy companies, and investors, and has led transactions totaling more than a gigawatt across multiple states and countries. Before her time at 21m, Rachel held the positions of General Counsel at CleanSpark, Inc. from 2020 to 2023, and Corporate Counsel at Zappos, among others. Rachel earned a bachelor’s degree from The George Washington University and a juris doctorate degree from William S. Boyd School of Law, University of Nevada-Las Vegas.

  Bitfarms

  Global General Counsel

  Rachel Silverstein

  Global General Counsel

  Bitfarms

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  Joshua Forman

  Joshua B. Forman is a member of the Corporate Practice in Greenberg Traurig’s Miami office. Joshua represents data center owners, developers, operators, and investors globally, specifically focusing on data center expansion, operations, leases and colocation agreements, and transit services, including the purchase and sale of terrestrial and subsea fiber access and interconnection in the United States, Canada, the Caribbean and Latin America. Joshua has deep in-house experience, having served as senior vice president and general counsel at Netrality Data Centers, where he was responsible for the organization’s legal department and providing strategic corporate and commercial legal advice to the executive leadership team, and providing legal advice on a wide range of domestic telecommunications matters. As general counsel and chief compliance officer at GlobeNet, he served on the executive leadership team and acted as the secretary to the board of directors, providing counsel regarding virtually all aspects of transactions, from assisting with due diligence and deal structuring, negotiating and drafting transaction documents, to overseeing the attainment of U.S. and non-U.S. regulatory approvals. As corporate counsel for mergers and acquisitions at TouchSuite, he structured U.S. and international mergers and acquisitions, joint ventures, and other strategic transactions in the merchant services industry.

  Greenberg Traurig

  Shareholder

  Moderator

  Joshua Forman

  Shareholder

  Greenberg Traurig

Keynote Fireside Chat

• Keynote

  Dave Ferdman

  President & Managing Director

  Primary Digital Infrastructure

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  Kemal Hawa

  Kemal Hawa is a corporate partner in the Washington, D.C., office of Kirkland & Ellis LLP. Kemal represents many of the world’s largest private equity firms, infrastructure funds, real estate investors and lenders across a broad range of transactions in the digital infrastructure sector domestically and internationally, including mergers and acquisitions, investments, financing arrangements, joint ventures and development projects. Kemal counsels clients in complex transactions across the digital infrastructure and telecommunications, media and technology industries. This includes many of the world’s largest data center operators, telecommunications carriers, tower companies, cloud providers, fiber providers, media companies, submarine cable operators, fintech companies, wireless and international carriers, internet service providers, satellite companies, equipment manufacturers and electric utilities. In addition to M&A and financing transactions, Kemal represents companies in connection with the full spectrum of digital infrastructure transactions globally, including the negotiation of data center leases and colocation agreements, telecommunications master service agreements, licensing deals and other commercial transactions. Kemal is a frequent author and speaker on digital infrastructure topics and has consistently been recognized as an industry leading attorney in the sector. In 2023, Kemal was named as one of Capacity Media’s “Power 100” – a list of the 100 most influential people in the digital infrastructure sector globally, and was voted “TMT M&A Lawyer of the Year” by an independent panel of judges organized by TMT Finance.

  Kirkland & Ellis

  Partner

  Moderator

  Kemal Hawa

  Partner

  Kirkland & Ellis