Keppel unit takes over Australia iseek data centre

Australia acquisition to enable Securus Fund to benefit from data centre growth and to jumpstart global investment in the said business.

Securus Data Property Fund Pte. Ltd. (Securus Fund), the world's first Shariah compliant data centre fund, has completed the acquisition of a 70%-stake in iseek Data Centre (iDC) from iseek Communications Pty Ltd.

Securus Fund is jointly managed by Keppel Data Centre Investment Management Pte. Ltd. (Keppel DCIM), a subsidiary of Keppel Telecommunications & Transportation Ltd (Keppel T&T), and AEP Investment Management Pte. Ltd. (AEPim).

iDC is conveniently located at Brisbane Export Park, Australia, 8.5 kilometres North-East of Brisbane's CBD. Operational since August 2010, iDC is currently 100% occupied by iseek Communications.

Mr Bruno Lopez, Executive Director of Keppel DCIM and Co-Fund Manager of Securus Fund, said, "With a pipeline of 90% of Australian homes connected to the new National Broadband Network, which is expected to be 100 times faster than the current broadband speeds, we expect the demand for data centres to grow in tandem with broadband connectivity and speed.

"Securus Fund's acquisition in Australia will allow us to benefit from this growth, in line with our strategy of investing in high quality data centres globally. We are currently also exploring other opportunities in Asia Pacific, Europe and the Middle East."

Jonathan King, Principal and Director of AEPim and Co-Fund Manager of Securus Fund, said, "I am delighted we are partnering with iseek Communications. The combined strengths of Securus Fund's expertise in data centres and iseek's track record in the Australian data centre market will provide the ideal platform for the Fund to grow and pursue other opportunities in the Australian market."

Designed to achieve a Power Usage Effectiveness of 1.3 or less, iDC is one of the greenest data centres in Australia. It is designed to reduce power consumption and energy costs through innovative building technology, helping customers reduce their carbon footprint. It also features an efficient fresh air cooling system that significantly decreases cooling system energy consumption, according to a Keppel report.

The iDC is strategically located on a managed precinct, with round-the-clock on-site monitored security. Connected to multiple carriers, iDC is a Tier III facility and ensures its continuous operations with redundancy of all critical power elements.