Digital Realty Trust (NYSE: DLR) completed the final close of its inaugural U.S. hyperscale data center fund, securing $3.25 billion in total equity commitments from global institutional investors including public pensions, sovereign wealth funds, endowments, and insurance companies.

The fund focuses on ownership and development of hyperscale data centers across major U.S. metropolitan areas including Northern Virginia, Santa Clara, Dallas, Atlanta, Charlotte and New York. Digital Realty retains a 20% ownership interest in the fund's portfolio and serves as the fund manager, overseeing operations, leasing, asset management, development and financing.

The company announced two senior additions to its Strategic Private Capital team. Michael Yang joined as Managing Director, Fund Management, previously serving as Senior Managing Director at CBRE Investment Banking. Bradley Petersen joined as Managing Director, Private Capital Fund Raising, formerly Head of Capital Raising at Jamestown LP.

"We are pleased to announce the final close of our inaugural U.S. hyperscale data center fund, alongside the addition of two highly experienced senior executives to our Strategic Private Capital team," said Greg Wright, Digital Realty Chief Investment Officer.

Matt Mercier, Digital Realty Chief Financial Officer, stated that "demand for hyperscale data center capacity remains exceptionally strong, driven by secular tailwinds in digital transformation, cloud, and AI."

Eastdil Secured and PJT Park Hill Group served as placement agents for the fund, while Kirkland & Ellis provided legal counsel for the fundraising process.

Digital Realty operates data centers across 55+ metropolitan areas on six continents through its PlatformDIGITAL platform. The fund represents part of the company's strategy to diversify its capital base and support hyperscale customer requirements.