Latham & Watkins Advises Evolution Data Centres on an Investment by Warburg Pincus and Establishment of a Joint Venture in the Philippines

Latham & Watkins has advised Evolution Data Centres, a Singapore based data centre developer, on its programmatic joint venture with Warburg Pincus for the development of sustainable hyper-scale data centres in the fast-growing cloud markets within Southeast Asia. As part of the venture, Warburg Pincus will be committing capital from its maiden asset-level Asia real estate Fund, which successfully closed with committed capital of US$2.8 billion in late 2021.

The Latham & Watkins team also advised Evolution on the establishment of a joint venture with Megawide to build, operate and develop data centres in the Philippines. The estimated total project cost is US$300 million and involves long-term development of a 69MW colocation data center in Cavite, with Phase 1 covering a 23 MW deployment spread over five years inside a four-hectare property.

The Latham team advising on the investment by Warburg Pincus was led by Singapore corporate partner James Clayton-Payne, with Seoul associate Regina Kim and Singapore associates Siana Bell and Cherine Teh. Advice was also provided on Singapore law matters by Singapore partner Farhana Sharmeen.

The Latham team advising on the joint venture with Megawide was led by Hong Kong partner Richard Watkins, with Singapore partner James Clayton-Payne and associate Joanne Lao.