KKR agreed to pay S$1.1 billion (approximately $807 million) for a fifth of Singapore Telecommunications Ltd.’s regional data center business, making its latest bet on Asian digital infrastructure.

The investment firm will have the option to raise its stake to 25 percent by 2027, according to Bloomberg News, under a deal that puts the Singtel unit’s enterprise value at about S$5.5 billion (approximately $403 billion). Singapore’s largest telecoms provider will use the capital to bankroll an expansion across Southeast Asia and into new markets such as Malaysia and Vietnam, reported Bloomberg.