First-round bids for a $2bn stake in CDC Data Centres are due before Christmas and the process concludes next year, sources say.
So far, the Australian Retirement Trust is believed to have been weighing an acquisition of part of CDC.
Another possible contender being closely watched was IFM after it came remarkably close to beating Blackstone in the $24bn contest to buy data centre giant Airtrunk.
However, others say it is not around the hoop.
IFM was understood to be neck and neck with Blackstone in the Airtrunk contest in the final hour.
Expectations have been mounting that Commonwealth Super will end up selling its $2bn-plus stake in the CDC Data Centres business to one of its existing owners – Infratil or the Future Fund – or a client of Infratil’s manager, Morrison & Co.
Infratil’s latest accounts puts its 48.2 per cent ownership in CDC at $5.2bn, up from $4.4bn.
DataRoom reported in July that investment bank Barrenjoey had been tapped for a possible selldown by one of CDC’s owners, and Commonwealth Super was known to be interested in divesting its holding.
Australian infrastructure asset manager Morrison & Co purchased CDC Data Centres in 2016 for about $1.1bn on behalf of Infratil and Commonwealth Super.
In 2020, Commonwealth Super Corp sold half of its 48.2 per cent interest to the Future Fund.
Data centres are one of the most popular investment choices in the current market, being in demand with the rise of artificial intelligence.
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