CyrusOne / KKR - European recapitalisation

KKR has acquired a majority stake in CyrusOne's European data centre operations in a recapitalisation deal valued at approximately $1.95 billion. The transaction covers 150 MW of critical IT capacity across facilities in Amsterdam, London, and Frankfurt - three of Europe's four primary data centre markets.

The deal is structured as a joint venture, with CyrusOne retaining a minority interest and continuing to provide operational management services. KKR's investment will fund the expansion of existing campuses, with approximately $500 million earmarked for new development across the three markets over the next four years.

Europe's data centre market has attracted significant institutional capital in recent years, driven by strong demand fundamentals, limited new supply in key markets, and attractive risk-adjusted returns. KKR's entry into the European data centre sector through this transaction reflects the firm's broader strategy to build a diversified digital infrastructure portfolio spanning data centres, fiber networks, and tower assets.