Oaktree-backed firm unveils $1.2 billion Amsterdam data centre project

Oaktree Capital-backed firm Pure Data Centres said on Monday it plans to spend up to 1 billion euros ($1.17 billion) on an Amsterdam campus, in one of the biggest 'hyperscale' data centre investments announced in Europe this year.

Pure Data Centres said the campus will be leased by a single 'hyperscaler' tenant.

Large-scale cloud service providers, also known as hyperscalers, are racing to build AI infrastructure. Amazon, Meta, Google and Microsoft are projected to spend hundreds of billions of dollars in 2025, according to company filings.


A raft of planned data centres projects have been announced in Europe this year, but it is less common for a project to have a lease already agreed.

Construction of the Amsterdam campus will begin in January 2026, and there will be a phased delivery of the campus which is anticipated from 2028 onwards, Pure Data Centres said.