GI Partners LLC is looking to raise more than $1 billion for a digital infrastructure fund that will target data centers and related assets, Bloomberg News reported, citing unnamed sources.

The San Francisco-based private equity and real estate investment firm has made several appointments in recent months in light of the new initiative.

GI named Mark Prybutok, a former partner at Alinda Capital Partners, a managing director in July and hired former Equinix Inc. CEO Steve Smith in June.

A GI Partners representative did not immediately provide a comment, according to the report.