Principal AM to increase data centre investment

Principal Asset Management is set to increase investment in data centres, the company’s managing director said.

Rachel Shone

Speaking to CRE Media Europe at EXPO in Munich, Rachel Shone described Principal AM’s plans for the sector as “exciting”.
“We've got specialist teams in the US and Europe, and we’ve launched three different funds in two different series,” she said. 
“We've got a US series and a European series. It's a space that we still think is super attractive when we think about the supply and demand dynamics.”
Shone added that the difficulty in obtaining sufficient power in Europe’s key markets of  Frankfurt, London, Amsterdam, Paris, and Dublin is stimulating investment in secondary markets.
“The number one thing that's driving the growth of secondary and tertiary markets is that power constraint [in the core markets],” she said.
In addition, Shone said that Principal AM still believes that there are opportunities to be found in the European logistics market, despite years of hype. 
“Everyone's been talking about that for a while, but if you look at the penetration rates, in southern Europe for instance, there is still room to grow.”

Adam Branson