American Tower Completes Follow-On Investment by Stonepeak in U.S. Data Center Business

Cleary Gottlieb represented American Tower Corporation (American Tower) in a sale of additional interests in its U.S. data center business for a total aggregate consideration of $570 million to certain affiliated investment vehicles of Stonepeak as part of a new long-term strategic partnership.

The transaction signed on October 4, 2022, and closed on October 20, 2022, and follows Stonepeak’s initial $2.5 billion investment in the U.S. data center business in August 2022.

Stonepeak is a leading alternative investment firm specializing in infrastructure and real assets.