KKR and GIP-owned CyrusOne weighs $5bn IPO as data centre listings gather pace
CyrusOne, the data centre operator owned by KKR and BlackRock’s Global Infrastructure Partners, is preparing for a potential US initial public offering as early as 2027, in what could become one of the sector’s largest listings in recent years, according to a report by Reuters.
CyrusOne, a data center operator co-owned by KKR and BlackRock’s Global Infrastructure Partners (GIP), is reportedly on the verge of a $5 billion initial public offering (IPO) in the United States by 2027, according to a Reuters report. The potential IPO could mark one of the largest listings in the data center sector in recent years, sources indicate.
KKR and GIP held discussions with investment banks, such as Goldman Sachs and Morgan Stanley, in recent weeks to gauge interest in participating in the offering. However, the IPO plans are still in the early stages, with the amount of capital to be raised and the desired valuation yet to be determined. One source suggested the IPO could raise approximately $5 billion, although the final size and structure may vary.
A successful listing would enable KKR and GIP to potentially realize a portion of their investment in CyrusOne, while providing the company with access to public equity markets to support its expansion and reduce the debt accumulated during its data center build-out. CyrusOne, acquired by KKR and GIP in a private transaction valued at around $15 billion, including debt, now operates over 60 data center campuses across the US, Europe, and Japan.
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