Digital Colony has hired PSP Investments and Brookfield veteran Steven Sonnenstein as managing director of mobile and internet infrastructure, the firm said on 15 May.
Sonnenstein told Inframation that the firm will look at opportunities around the world, but with a focus on Europe and the Americas. “The opportunity set is large. It’s a matter of picking our spots and not overpaying for assets. The true value proposition that we bring to the table is the ability to operate these assets after we acquire them,” he said.
Sonnenstein joined Digital Colony after working as senior director at PSP Investments, where he was responsible for deploying roughly USD 1.6bn of investments in the sector. Before joining PSP, he worked for Brookfield Asset Management in its private equity and infrastructure groups with a focus on South America
He first ran into Marc Ganzi, managing partner at Digital Colony, about five years ago as rival bidders on a telecom transaction in France. Ganzi is also the founder and CEO of Digital Bridge.
Last year, Digital Bridge, PSP and TIAA teamed up on the USD 1.2bn acquisition of Vantage Data Centers from Silver Lake Partners.
Digital Colony, a global investment firm focusing on mobile and internet infrastructure, is comprised of Digital Bridge, an operator of digital infrastructure businesses, and Colony NorthStar Inc, a real estate investment management firm.
Digital Bridge Holdings is developing a USD 3-4bn telecom infrastructure fund, as reported. Sonnenstein declined to comment on the fund.