Shortlists
Digital Infrastructure Equity Deal of the Year
DayOne Data Centers raises US$2bn+ Series C financing
For the US$2bn+ Series C equity financing for Singapore-based DayOne Data Centers led by Coatue with participation from Indonesia Investment Authority.
Financial Advisors: Morgan Stanley, JPMorgan, BNP Paribas, Nomura (DayOne)
Legal Advisors: Latham & Watkins (Coatue); A&O Shearman (Indonesia Investment Authority)
Firmus Technologies raises US$800m+ in equity
For a US$330m equity investment in September 2025 by Ellerston Capital, and participation from NVIDIA, and a further US$500m in November 2025.
Financial Advisors: Bank of America, JPMorgan, Morgans, Highbury Partnership (Firmus)
Legal Advisors: Ashurst (NVIDIA); Herbert Smith Freehills Kramer (Firmus)
NTT Data lists NTT DC REIT in US$773m SGX IPO
For the listing of NTT DC REIT by NTT Data on the Singapore Exchange, raising US$773m.
Financial Advisors: Bank of America, UBS, Mizuho, Citi, DBS (Bookrunners)
Legal Advisors: Clifford Chance (Bookrunners); Baker McKenzie, Allen & Gledhill (NTT)
Stonepeak invests US$1.3bn in Princeton Digital Group
For the US$1.3bn structured preferred equity investment by Stonepeak into Singapore-based hyperscale datacentre platform Princeton Digital Group.
Financial Advisors: Barclays (Stonepeak); Goldman Sachs, JPMorgan (PDG)
Legal Advisors: Sidley Austin (Stonepeak); Latham & Watkins, Clifford Chance (PDG)
TPG invests US$1bn in HyperVault
For the US$1bn strategic investment by TPG into HyperVault, TCS’s AI datacentre platform in India.
Financial Advisors: Not disclosed
Legal Advisors: Cyril Amarchand Mangaldas, Latham & Watkins (TPG); AZB & Partners (TCS/HyperVault)
Vantage Data Centers raises US$1.6bn from GIC and ADIA
For the US$1.6bn minority equity investment into Vantage Data Centers by GIC and Abu Dhabi Investment Authority (ADIA) to support hyperscale datacentre expansion and the acquisition of Yondr in Malaysia.
Financial Advisors: Self-advised
Legal Advisors: A&O Shearman (GIC and ADIA); Linklaters (Vantage/DigitalBridge)
Digital Infrastructure Debt Financing Deal of the Year
AirTrunk secures AUD16bn sustainability-linked refinancing
For the closing of an AUD16bn (US$10.72bn) sustainability-linked refinancing to support AirTrunk’s APJ datacentre expansion. The multi-transaction financing covers key greenfield and operational assets across Australia, Hong Kong, Malaysia and Singapore.
Lead Structuring Bank, Left Lead Arranger, Mandated Lead Arranger and Bookrunner for the Southeast Asian term loan financing: SMBC
Lead Structuring Bank, Mandated Lead Arranger and Bookrunner, Green Loan Coordinator for the revolving warehousing facility: SMBC
Global Coordinators and Sustainability Structuring Agents for SGP2 financing: Crédit Agricole, DBS, ING
Mandated Lead Arrangers and Bookrunners (across various transactions): MUFG Bank, Natixis, Standard Chartered Bank, UOB, among others
Legal Advisors across various transactions: King & Wood Mallesons, Simpson Thacher & Bartlett (AirTrunk); Gilbert + Tobin, Linklaters (Lenders)
Bridge Data Centres secures US$2.8bn financing
For the US$2.8bn senior secured bank financing across three tranches to support expansion of Bridge Data Centres’ Malaysian assets.
Mandated Lead Arranger and Bookrunners: JPMorgan, Deutsche Bank, Citibank, SMBC, MUFG, Crédit Agricole, DBS, UOB, Clifford Capital
Legal Advisors: Linklaters (Lenders); Kirkland & Ellis, Rahmat Lim & Partners, Zul Rafique & Partners (Bridge Data Centres)
DayOne closes MYR15bn Johor datacentre financing
For the MYR15bn (US$3.54bn) equivalent multicurrency financing secured by DayOne to refinance and fund capex for its datacentres in Johor, Malaysia.
Lenders: MBSB, Maybank, CIMB, OCBC, Standard Chartered, DBS, UOB, Crédit Agricole
Legal Advisors: Wong & Partners
EdgePoint secures US$475m HoldCo loan
For the US$475m syndicated HoldCo loan secured by EdgePoint Infrastructure from a mix of institutional investors and banks.
Joint Lead Arrangers: Nomura, Santander, First Abu Dhabi Bank, Barclays, Deutsche Bank
Other Lenders: Allianz Global Investors, NEC Capital Solutions, Affin Bank
Legal Advisors: Linklaters; Milbank (Lenders)
Firmus secures US$10bn private debt for Project Southgate
For the US$10bn private debt financing facility secured by Firmus Technologies to fund its AI infrastructure programme Project Southgate in Australia.
Lenders: Blackstone, Coatue Management
Legal Advisors: Latham & Watkins (Coatue); Allens, Kirkland & Ellis (Blackstone); Milbank, Latham & Watkins, Gilbert + Tobin (Firmus)
STACK Infrastructure closes AUD1.3bn green financing
For the AUD1.3bn (US$853m) green project financing facility to support development of STACK Infrastructure’s datacentre campus in West Melbourne, Australia.
Financial Advisors: Deutsche Bank, MUFG, Natixis, OCBC, Société Générale
Legal Advisors: Not disclosed
Digital Infrastructure M&A Banker of the Year
(In alphabetical order)
Peter Chu, Managing Director, Head of Asia TMT, Morgan Stanley
Axel Granger, Managing Director, Co-head of APAC TMT, UBS
Varun Matta, Managing Director, Co-head of APAC TMT, Citi
Kingston Pang, Managing Director, Redpeak Advisers
Andrew Verdasca, Managing Director, Head of East Asia TMT and APAC Communications, JPMorgan
Digital Infrastructure Financing Banker of the Year
(in alphabetical order)
Sachin Goel, Managing Director, Head of APAC TMT, MUFG
Vishesh Gupta, Managing Director, Head of APAC TMT, Healthcare & Consumer Sector Banking and Digital Infra Team, SMBC
Terence Koh, Managing Director, Head of TMT, UOB
Amit Sinha, Managing Director, Global Head of TMT, DBS
Krishna Suryanarayanan, Managing Director, Head of APAC TMT and Healthcare, ING
Jasmine Zhang, Managing Director, Head of APAC TMT Finance, Crédit Agricole
Digital Infrastructure CEO of the Year
(In alphabetical order)
Eric Fan, CEO, Bridge Data Centres
Jamie Khoo, CEO, DayOne Data Centers
Robin Khuda, Founder and CEO, AirTrunk
Rangu Salgame, Chairman and CEO, Princeton Digital Group
Vikram Sinha, President Director and CEO, Indosat Ooredoo Hutchison
Patrick Tangney, Chairman and CEO, Pinnacle Towers
Digital Infrastructure Investment Leader of the Year
(In alphabetical order)
Projesh Banerjea, Managing Director, Infrastructure, KKR
Wilson Chung, Managing Director, Investment Management, DigitalBridge
Nitish Hemdani, Senior Vice President, GIC Infrastructure
Ray Nadarajah, Emerging Markets Partner, BlackRock/Global Infrastructure Partners
Luv Parikh, Managing Director, Head of Private Infrastructure Asia, Partners Group
Andrew Thomas, Senior Managing Director, Head of Digital Infrastructure, Global ex-Europe Investment Team, Stonepeak
Digital Infrastructure Rising Star
(In alphabetical order)
Alaister Johnson, Partner, Linklaters
Johannes Kaup, Director TMT Sector Coverage, ING
Penny Peng, Corporate Development and Strategy Manager, AirTrunk
Jia-Yi Tay, Counsel, Linklaters
Hanad Yusuf, Chief Sales and Commercial Officer, EdgePoint Malaysia
Digital Infrastructure Investment Firm of the Year
(In alphabetical order)
Coatue Management
DigitalBridge
GIC
KKR
Partners Group
Stonepeak
Digital Infrastructure Financing Bank of the Year
(In alphabetical order)
ING
MUFG Bank
Nomura
Société Générale
Sumitomo Mitsui Banking Corporation
United Overseas Bank
Digital Infrastructure Due Diligence Advisor of the Year
(In alphabetical order)
Altman Solon
Analysys Mason
Hardiman Telecommunications
Digital Infrastructure Growth Story
(In alphabetical order)
DayOne Data Centers
Digital Edge
Firmus Technologies
Princeton Digital Group
Vantage Data Centers
Vocus
Digital Infrastructure Financial Advisor (Volume & Value)
A&O Shearman
AZB & Partners
Khaitan & Co.
Latham & Watkins
Mori Hamada & Matsumoto
Nishimura & Asahi
Digital Infrastructure Financial Advisor (Volume & Value)
Citi
Daiwa Securities
Goldman Sachs
Nomura
Plutus Consulting
UBS
Digital Infrastructure M&A Deal of the Year
Bain Capital sells WinTrix DC Group’s China assets to HEC-led consoritum
For the sale by Bain Capital of its China datacentre operations, WinTrix DC Group (formerly Chindata), to a Shenzhen Dongyangguang Industry (HEC)-led consortium for US$4bn.
Financial Advisors: Morgan Stanley (Sell Side)
Legal Advisors: King & Wood Mallesons, Haiwen & Partners (Sell Side - report); Jia Yuan Law Offices, Zhong Lun Law Firm (Buy Side - report)
BCI buys minority stake in Pinnacle Towers from KKR
For the acquisition by BCI of a minority stake in Philippines-based Pinnacle Towers from KKR for US$300m–US$400m (Report – TMT Finance)
Financial Advisors: Greenhill & Co (now Mizuho affiliate) (Sell Side); UBS (Buy Side)
Legal Advisors: Latham & Watkins (Sell Side); Milbank (Buy Side)
TPG Telecom agrees AUD5.25bn fibre sale to Vocus
For the sale of TPG Telecom’s fibre network infrastructure business to Vocus for AUD5.25bn (US$3.68bn).
Financial Advisors: Bank of America (Sell Side); Macquarie Capital, UBS (Buy Side)
Legal Advisors: Allens (Sell Side); Gilbert + Tobin (Buy Side)
VEON seals US$562.7m Pakistan towers sale and leaseback
For the sale and leaseback by VEON of 10,600 telecom towers in Pakistan to Engro Corporation for US$562.7m.
Financial Advisors: FTI Capital Advisors (Sell Side)
Legal Advisors: Haidermota & Co (Sell Side); Mohsin Tayebaly (Buy Side); A&O Shearman (Buy side)
Vantage Data Centers acquires Yondr Group Johor campus
For the acquisition of Yondr Group’s 300MW datacentre campus in Johor, Malaysia by Vantage Data Centers.
Financial Advisors: Not disclosed
Legal Advisors: Linklaters (Sell Side); Baker McKenzie, Simpson Thacher & Bartlett (Buy Side)
XL Axiata and Smartfren US$6.5bn merger
For the merger of Axiata-backed XL Axiata and Sinar Mas-owned Smartfren in Indonesia valued at US$6.5bn.
Financial Advisors: Deutsche Bank (Axiata Group); Citi (XL Axiata); CIMB, JPMorgan (Sinar Mas and Smartfren)
Legal Advisors: Skadden Arps Slate Meagher & Flom (Axiata Group); Freshfields (Sinar Mas); A&O Shearman (XL Axiata)
