Builds on $1.3bn raised earlier this year.
BlackChamber Group has raised $2.1 billion for the development of hyperscale data centers in the US.
The BlackChamber Real Estate Opportunity Fund II held a final close earlier this month, reports Institutional Real Estate, Inc., and Real Assets, among others.
The fund is comprised of $830 million in committed capital from various sources, including global institutions, sovereign wealth funds, public and corporate pensions, insurance companies, endowments, foundations, and family offices, as well as $1.3bn in a co-investment vehicle, which was revealed in January of this year.
Among those to invest were the California State Teachers Retirement System, which committed $350m to the fund and the co-investment vehicle.
The fund had a target of $1bn and was oversubscribed.
Hodes Weill Securities acted as the exclusive financial advisor and global placement agent to BlackChamber Group.
The funds raised will be used for the development of hyperscale data centers in the US, with an emphasis on Northern Virginia.
“With this fund, we are well-positioned to meet the rapidly expanding need for digital infrastructure in core US markets,” said a spokesperson for BlackChamber. “Our investors share our conviction in the long-term tailwinds powering data center growth.”
This is BlackChamber's second raise specifically for data centers, having launched another real estate fund in 2020.
The group was founded in 2019 and focuses on developing build-to-suit powered shells for hyperscalers. The company's employees have experience at Meta, JLL, COPT, Credit Suisse, and Whiting-Turner.
The company reportedly owns more than 300 acres of land in Loudoun and Prince William Counties, including in Arcola, Sterling, and Leesburg, as well as Gainesville.
The company is behind the John Marshall Commons Tech Park in Haymarket and the Village Place Technology Park in Gainesville, both in Prince William. It is also involved with the Innovation Gateway data center project in Loudoun County, as well as a project in Arcola.
