Simpson Thacher is representing Macquarie Asset Management (“MAM”) in its investment of up to $5.0 billion in the high performance computing (“HPC”) data center business of Applied Digital Corporation (“APLD”), a designer, builder and operator of next-generation digital infrastructure. The investment will support the development of APLD’s HPC data center pipeline. Funds managed by MAM will invest up to $900 million in APLD’s Ellendale HPC data center campus in the form of a perpetual preferred and 15% common equity interest in APLD’s HPC business segment and MAM will have a right to invest up to an additional $4.1 billion across APLD’s HPC business for 30 months following close.
MAM is a global asset manager, integrated across public and private markets. Trusted by institutions, governments, foundations and individuals to manage approximately $633.7 billion USD in assets, MAM provides a diverse range of investment solutions including real assets, real estate, credit and equities & multi-asset. MAM is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory, and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie Group employs over 20,000 people in 34 markets and is listed on the Australian Securities Exchange.
The Simpson Thacher team includes Gabriel Silva, Keegan Lopez, Gabriela Astolphi and Jonathan Schwartz (M&A); Brian Chisling and Ned Simpson (Infrastructure); Amy Beller and Hana Muwaqet (Banking & Credit); Lia Toback (Capital Markets); Drew Purcell and Ruoxi Zhang (Tax); Krista McManus and Helene Snyder (Real Estate); David Rubinsky and Courtney Thomson (ECEB); Lori Lesser and Christian Bond (Intellectual Property); and Toby Chun and Noreen Lavan (Environmental).