eStruxture Data Centers (eStruxture), a Fengate Asset Management (Fengate) portfolio company, has secured $1.35 billion in new financing to accelerate the development of data centers across Canada. The financing includes $750 in asset-backed securities (ABS), making it the first rated, Canadian asset-only securitization in the data center sector.

Fengate’s investment in eStruxture is on behalf of Fengate Infrastructure Fund III, Fengate Infrastructure Fund IV, and their affiliated entities, including an investment by LiUNA’s Pension Fund of Central and Eastern Canada. It also includes capital from a group of institutional secondary investors co-led by Pantheon and Partners Group.

Guggenheim Securities acted as Lead Structuring Advisor, Scotiabank acted as Joint Structuring Advisor and Joint Active Bookrunning Manager, and National Bank acted as Passive Bookrunner for the securitized notes.

The DevCo Credit Facility is being underwritten by Scotiabank and National Bank Financial.