We advised IMM Investment HK and Woori PE Asset Management on the transaction

Davis Polk advised IMM Investment Hong Kong (IMM Investment HK) and Woori Private Equity Asset Management on their strategic financing in Digital Decarbonization Solutions Platform (DDSP) to fund the development and construction of hyperscale data center campuses across Asia Pacific.

The investment was made through the Green Infrastructure Export Support Fund No. 2, a ₩259.2 billion Korean policy fund established by the Ministry of Climate, Energy and Environment and managed by the Korea Overseas Infrastructure & Urban Development Corporation, for which IMM Investment HK and Woori PE Asset Management act as co-operating managers. S-Energy invested alongside the fund through S-Nexus APAC Limited, a newly established Hong Kong entity, and has entered into a long-term ESG-based operations and maintenance contract covering DDSP’s Asian portfolio.

IMM Investment HK is the overseas investment arm of IMM Investment Corp., a leading Korean alternative investment manager with over $7 billion of assets under management and more than 70 investment professionals. Formed in 2019, IMM Investment HK implements the group’s sector-agnostic global investment strategy across North America, Europe, Asia and MENA, with a focus on high-growth opportunities and energy and infrastructure investments.

Woori PE Asset Management is a Korea-based alternative investment manager established in 2006, with cumulative assets under management of approximately $4 billion across private equity and investment solutions, spanning infrastructure, energy and corporate investment.

DDSP is a developer of hyperscale, digital and carbon-efficient data center campuses and associated decarbonized energy infrastructure across Asia Pacific. Headquartered in Singapore and established in 2022, DDSP combines industrial and technical expertise with institutional investment and underwriting principles to deliver advanced cloud and AI infrastructure, and owns a portfolio of 1.1GW of capacity across Taiwan, Malaysia, Thailand, Indonesia and Singapore.

S-Energy is a Korean listed company founded in 2001 that specializes in solar energy engineering, procurement and construction and in the operations and maintenance of power assets. Through this transaction, S-Energy is extending those capabilities to overseas infrastructure projects linked to data centers, using its proprietary GFOS asset management platform to move from construction-focused work to a long-term operational model in the global infrastructure market.

The Davis Polk corporate team included partner Samuel Kang and registered foreign lawyers Yong Lee, Rebecca Yang and Claire Park. All members of the Davis Polk team are based in the Hong Kong office.

Copy link to share post