California's GI Capital sells last Frankfurt asset, says realises 60% gross IRR

The California-based private equity firm GI Partners has sold the last European asset from its debut Fund 1, a data centre in Frankfurt, and said the sale completes a realisation of over $1bn in cash proceeds on an initial equity investment of $280m, giving a 3.7x multiple to invested capital and a 60% gross internal return of investment. The data centre was sold for $28m to Equinix Holding, a Dutch-registered subsidiary of the NASDAQ-listed Equinix group.