Good evening,

David Di Pilla’s HMC Capital is getting into the red-hot data centre sector, closing in on a $2 billion purchase of Global Switch Australia, which owns two large-scale developments in inner Sydney. Those assets will anchor a $1 billion real estate play that the veteran dealmaker and former UBS banker intends to list this year.

The deal is but a splash in the ocean compared with the mega purchase of AirTrunk by Blackstone, which bought the operation from Macquarie Asset Management and PSP Investments for $24 billion-plus last month.

But it shows there is no lack of interest in the sector – one of the country’s most prolific dealmakers is keen to invest. Street Talk can reveal that HMC has signed exclusivity with Global Switch Australia’s Chinese owners, having seen off a slew of big-ticket infrastructure investors in the UBS-run auction.

Among those who were interested in Global Switch Australia were Queensland Investment Corporation, Canada Pension Plan Investment Board, Swiss giant Partners Group and New York-based asset manager Stonepeak.

• UniSuper withdraws Tanarra Credit Partners′ mandate; dealmaker resigns
• David Di Pilla swoops on $2 billion data centre group Global Switch Australia
• Air Vanuatu emerges from administration with EY-led restructure
• E&P hires from Cooper Investors as healthcare analyst heads to Regal
• Queensland’s koala farmland fund hits the raising trail
• MA Money launches $500 million RMBS deal

• QIC to set record $900 million mall deal as it embarks on more sell-downs
• Australia’s IPO drought is the worst since the GFC
• ASX cancels trades after fumbling Namoi Cotton takeover bid
• Westpac to sell auto finance loan book to Resimac Group,Reuters reports

Australian shares eked out a modest rise in Thursday’s session, as traders nervously weighed the risks of escalating tensions in the Middle East while awaiting clues on the state of the US economy later this week.

Click here for the latest equity market wrap.