I Squared Capital acquires majority stake in Brazilian data center firm Elea

Investment firm I Squared Capital finalized the acquisition of a majority stake in Elea Data Centers, a Brazilian data center operator, on April 28, 2026. The deal, terms of which were undisclosed, positions Elea under I Squared’s expanding digital infrastructure portfolio alongside companies like nLighten and BDx. Elea operates nine data center campuses across major Brazilian cities including São Paulo, Rio de Janeiro, and Brasília, with an existing operational capacity of 300MW and over 1GW in development. The company’s Rio AI City project, a 3GW+ development in Rio de Janeiro, will serve as a cornerstone for scaling high-density AI infrastructure across Brazil. I Squared Capital, managing $50 billion in assets, highlighted Elea’s national colocation footprint and renewable energy access as key drivers for the investment. Alessandro Lombardi, Elea’s founder and president, emphasized Brazil’s unique advantage in gigawatt-scale renewable energy availability for data center expansion.

Counterparts (4)

Investor

I Squared Capital

company · 7 deals

I Squared Capital is an independent global infrastructure investor focusing on energy infrastructure, utilities, transport and logistics, digital infrastructure, social, and environmental infrastructure. They develop investment platforms in infrastructure and aim to invest in a more sustainable future.

Goldman Sachs Asset Management

company · 3 deals

New York-based asset management arm of Goldman Sachs with $3.3 trillion in assets under supervision, employing 1,700 investment professionals across public and private markets.

Seller

Elea Data Centers

company · 1 deals

Rio de Janeiro-based data center operator and developer, Brazil's largest distributed digital infrastructure platform with nine operational facilities across five states, 100% powered by renewable energy, and a focus on edge-to-hyperscale solutions for cloud, content, and enterprise clients.

parent_company

Piemonte Holding

company · 1 deals

Rio de Janeiro-based infrastructure investment firm focused on digital infrastructure, particularly data centers, with a strategy centered on sustainable economic transformation through strategic capital allocation.