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Investor consortium acquires data center operator from Silver Lake

A consortium of investors, including communications infrastructure company Digital Bridge Holdings LLC, Public Sector Pension Investment Board and Nuveen affiliate TIAA Investments, has acquired Vantage Data Centers from Silver Lake Partners.

Santa Clara, Calif.-based Vantage Data Centers is a provider of data center solutions. Financial terms of the deal were not disclosed. TIAA Investments made the investment on behalf of TIAA's general account.

TD Securities together with CIT Bank NA, RBC Capital Markets and SunTrust Robinson Humphrey have provided debt financing commitment for the deal.

Vantage will continue to be led by President and CEO Sureel Choksi and the existing management team, which has made an investment in the business alongside the consortium. Mike Foust, senior adviser to Digital Bridge and former CEO of Digital Realty, will join the Vantage board as chairman. Digital Bridge's Raul Martynek will also join the board.

RBC Capital Markets LLC and DH Capital served as financial advisers, and Simpson Thacher & Bartlett LLP acted as legal adviser to Vantage in connection with the transaction. Jones Day acted as lead M&A counsel, Kleinbard LLC acted as investment structure counsel and Ernst and Young LLP served as accounting adviser to Digital Bridge. Davies Ward Phillips & Vineberg LLP acted as legal adviser to PSP Investments, and Arnold & Porter Kaye Scholer LLP acted as legal adviser to TIAA Investments.