TPG is in talks to acquire UK data centre group Ark Data Centres from Elliott Management at a valuation of about $5bn, according to people familiar with the matter. The discussions are ongoing, although those people cautioned that a deal is not guaranteed. If completed, it would rank among the largest data centre deals of the year.
Based in Wiltshire, England, Ark is one of the largest independent data centre operators in Europe, running 27 centres across the UK and Belgium. Synergy Research Group said a deal at this valuation would place among the top five global data centre transactions this year. Data centre deals worth $89.4bn have been struck in 2026 so far, 50 per cent higher than all of 2025, including the $40bn takeover of Aligned Data Centres by Global Infrastructure Partners and Abu Dhabi fund MGX.
Founded in 2005, Ark has close ties to the UK government through its Crown Hosting Data Centres joint venture with the Cabinet Office. It also runs digital infrastructure for technology groups including IBM and Palo Alto Networks. Elliott, which first invested in 2012, stands to gain a windfall from a sale. Reuters reported last September that Elliott was weighing options for Ark that could value it at more than £3bn.
TPG's real estate arm entered the data centre market in 2019 and has become one of the private capital industry's fastest-growing investors. It has also backed AI ventures, including a recent fundraise by neocloud Crusoe. TPG and Elliott declined to comment, and Ark and minority investor Revcap did not respond to requests for comment.
Source: Financial Times Companies · Summarized by HeadlinesBriefing