Bain Capital is weighing a more than $15 billion purchase of Koch-owned data-center operator Edged, marking a potential major shift for the private equity firm as it moves deeper into the booming U.S. AI infrastructure market.
According to Bloomberg, the firm held discussions regarding the potential acquisition of Edged to develop, build and operate data centers. Edge currently operates seven data centers, with more additional projects on the way.
Koch Inc. hired Goldman Sachs and Newmark Group to gauge interest from potential buyers.
Bain managing partner David Gross warned late last year in an interview that the surge of investment into AI infrastructure could be creating "a massive arms race," signaling concerns about the sheer amount of capital pouring into the sector.
FMI Consulting recently identified seven data center service sectors as potential private equity acquisition targets. The areas include electrical and mechanical contractors, operations and maintenance providers, equipment distributors, engineering firms, and data center infrastructure specialists.
U.S. data center construction spending jumped from $9.9 billion in 2021 to $49.7 billion in 2025. FMI expects spending to reach $100.8 billion by 2030, with roughly $397 billion in cumulative construction spending over the next five years.
Last April, Bain Capital announced the launch of hyperscale provider scale, as the firm expanded its digital infrastructure footprint across the EMEA region.
Bain has also invested in data center developer Crusoe and operator DC Blox through its credit arm, with much of its broader data center focus centered on Europe and Asia.
In the U.S., the firm has instead targeted companies that help data centers operate more efficiently. Its investments include cloud software and infrastructure company Nutanix and Coherent Corp., a supplier of data center components.
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