Manulife Investment Management signs definitive agreement to acquire a controlling interest in data center platform Serverfarm

Acquisition will accelerate global expansion of Serverfarm's portfolio and drive innovation to better serve customer requirements

BOSTON and LOS ANGELES, May 19, 2023 /PRNewswire/ - Manulife Investment Management ("Manulife IM"), on behalf of Manulife Infrastructure Fund II* and its affiliates, is pleased to announce that it has entered into a definitive agreement to acquire a controlling interest in Serverfarm, a data center owner and operator. The significant investment by Manulife IM, together with support from existing shareholders, will provide capital to Serverfarm to continue its expansion across North America, Europe, and Israel to capitalize on attractive market opportunities.

Serverfarm currently operates a portfolio of eight data centers across North America, Europe and Israel that aggregate more than 1.5 million gross square feet and 125MW of IT capacity, and it has secured additional land for future data center developments.

"Avner and the Serverfarm team have built a high-quality data center portfolio and growth platform that is well-positioned to capitalize on the strong secular tailwinds in the data center market," said Recep Kendircioglu, global head of infrastructure, Manulife Investment Management. "We are excited about the company's future and our ability to support Serverfarm through its next phase of growth on behalf of our clients."

"Partnering with Manulife Investment Management, an investor that shares Serverfarm's vision for growth and customer service, will allow us to effectively address the next wave of demand from our existing and new customers," said Avner Papouchado, Founder and CEO of Serverfarm. "Our new relationship with Manulife Investment Management provides Serverfarm with additional expertise and new capital to execute on a number of attractive development opportunities and give our customers a long-term growth runway."

The acquisition is expected to close in the third quarter of 2023 after the satisfaction of customary closing conditions including the receipt of certain regulatory approvals.

Citigroup Global Markets Inc. is serving as lead financial advisor, TD Securities (USA) LLC is serving as financial advisor, and Dentons US LLP and Alston & Bird LLP are serving as legal counsel to Serverfarm.

TAP Advisors LLC is serving as financial advisor, and Paul, Weiss, Rifkind, Wharton & Garrison LLP is serving as legal counsel to Manulife Investment Management.

Manulife Investment Management is the global brand for the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than a century of financial stewardship and the full resources of our parent company to serve individuals, institutions, and retirement plan members worldwide. Headquartered in Toronto, our extensive capabilities in public and private markets are strengthened by an investment footprint that spans 19 geographies. We complement these capabilities by providing access to a network of unaffiliated asset managers from around the world. We're committed to investing responsibly across our businesses. We develop innovative global frameworks for sustainable investing, collaboratively engage with companies in our securities portfolios, and maintain a high standard of stewardship where we own and operate assets, and we believe in supporting financial well-being through our workplace retirement plans. Today, plan sponsors around the world rely on our retirement plan administration and investment expertise to help their employees plan for, save for, and live a better retirement. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.

Serverfarm is an established multi-regional data center platform that provides data center solutions to key hyperscale, webscale, technology & network customers. These data center solutions include Colocation, Data Center Design, and IT Infrastructure Management, through Serverfarm's proprietary InCommand DMaaS technology. For more information, visit https://www.serverfarmllc.com/.

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SOURCE Manulife Investment Management