TPG in talks to buy Ark Data Centres for $5 billion

TPG is in talks to acquire Ark Data Centres from Elliott Investment Management for about $5 billion, Financial Times reported, citing people familiar with the matter.

Elliott has held Ark since 2012 and began reviewing strategic options for the company in 2025, including a sale Reuters reported could exceed $4 billion. The $5 billion under discussion sits about $1 billion above that range. Ark operates 27 data centres across the U.K. and Belgium, serving government and corporate customers, including through Crown Hosting Data Centres, a joint venture with the U.K. government's Cabinet Office.

For fund selectors, the reported $5 billion equals about $185 million for each of Ark's 27 sites; the price covers the whole company, not one site. The 2025 sale Reuters reported at more than $4 billion implied roughly $148 million on the same count, before adjusting for the Crown Hosting joint venture and any debt.

Financial Times reporter Antoine Gara told a webinar this month that innovation in structuring investment-grade debt has been 'key to unlocking trillions of dollars', as Private Wealth Daily previously reported.

The Financial Times' sources said talks are ongoing and an agreement is not guaranteed. Reuters said it could not independently verify the negotiations.