Private equity firm Iron Point Partners has made an investment in Stream Data Centers.
The deal should allow Stream Data to fund a data center development in Westover Hills, Texas. Terms of the deal were not disclosed.
Iron Point and Stream Data have partnered before, to build Steam Data’s data center in the Woodlands, Texas.
Data space developer Stream Data's customers include Apple Inc. (Nasdaq: AAPL), AT&T Inc. (Nasdaq: T), Chevron Corp. (NYSE: CVX), the Home Depot Inc. (NYSE: HD) and Nokia Corp. (NYSE: NOK). The growth of cloud computing is creating an increased demand for data center space.
Iron Point manages about $1.3 billion in equity capital. The firm, which has offices in Washington D.C. and Dallas, primarily invests in real estate throughout North America.
Signal Hill acted as the sole placement agent to Stream Data.