Novacap Forms Joint Venture with H5 Data Centers for Advanced Data Solutions
Deal News | Jan 15, 2025 | Nova Capital Management
Novacap, a major North American private equity firm, and H5 Data Centers, one of the United States' largest privately-owned data center operators, have announced the formation of a joint venture. This venture is aimed at fulfilling the escalating demand for scalable and high-quality colocation space across North America. The focus will be on developing and repositioning strategically located facilities that offer robust infrastructure, enhanced connectivity, and exceptional security features. Recognizing a pivotal moment for power and compute capacity, both companies intend to bring significant data center capacity online in key US markets. This initiative marks Novacap's fourth venture under its Digital Infrastructure platform. Notable advisors in this partnership include Choate, Hall & Stewart LLP and Hogan Lovells LLP for legal counsel.
Sectors
- Private Equity
- Data Centers
- Digital Infrastructure
Geography
- North America – The joint venture between Novacap and H5 Data Centers will focus on solutions across North America, with key markets targeted in the United States.
- Canada – Novacap is headquartered in Canada and plays a significant role in the North American private equity landscape.
- United States – H5 Data Centers is based in the United States, where the joint venture will develop data center facilities.
Industry
- Private Equity – Novacap is a private equity firm engaging in investments and partnerships across various sectors, including digital infrastructure.
- Data Centers – H5 Data Centers operates within the data center industry, providing colocation and advanced data solutions to meet IT infrastructure demands.
- Digital Infrastructure – The joint venture aims to develop and enhance digital infrastructure facilities across North America.
Financials
- Over C$10 billion – Assets under management by Novacap.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Novacap | Private Equity Firm | Company | A leading North American private equity investor focusing on middle market companies across various sectors, including digital infrastructure. |
| H5 Data Centers | Data Center Operator | Company | One of the United States' largest privately-owned data center operators. |
| Choate, Hall & Stewart LLP | Legal Advisor to Novacap | Company | Provided legal advisory services to Novacap for the joint venture. |
| Hogan Lovells LLP | Legal Advisor to H5 Data Centers | Company | Provided legal advisory services to H5 Data Centers for the joint venture. |
| Ted Mocarski | Senior Partner and Head of Digital Infrastructure at Novacap | Person | Involved in establishing strategic partnerships for data center projects. |
| Josh Simms | CEO at H5 Data Centers | Person | Leading H5 Data Centers' efforts to expand their data center solutions in partnership with Novacap. |