Funding
Polar DC Draws €75 Million Palistar Facility Within €1 Billion 2026 Funding Haul
By News Desk ·
Key takeaways
- Palistar Capital committed an initial €75 million development financing facility to Polar DC, with room to upsize.
- Polar DC has secured more than €1 billion in aggregate funding commitments during 2026, including investment from H.I.G. Capital and LIAN Group.
- Polar DC raised an €800 million Nordic bond issuance in June 2026 for its contracted Norwegian developments.
Palistar Capital has committed an initial €75 million development financing facility to Polar DC, part of more than €1 billion in aggregate funding commitments the data center developer has secured during 2026. Datacenterdynamics reported the commitments, which also include further investment from existing shareholders H.I.G. Capital and LIAN Group.
How the Palistar Facility Works
The Palistar facility carries flexibility to upsize to include additional lender commitments. Polar DC said the capital will support early-stage development, including land acquisition, grid connections, and design and permitting works, and will advance its pipeline in Finland and Germany.
Andy Hayes, CEO of Polar Data Centers, said: “Securing over €1 billion in funding is a significant milestone for Polar and demonstrates the confidence investors have in our business, our strategy, and our ability to deliver.” Hayes said the bond issuance provides the financial foundation for the company's Norwegian developments, while the backing from H.I.G. Capital, LIAN Group and Palistar supports its next phase of growth in Finland and Germany.
Carras Holmstead, investment partner at Palistar Capital, said: “The additional funding reinforces Polar's strategy to develop high-performance, AI-ready data centers in locations offering access to reliable power, strong connectivity and favorable operating conditions.”
Polar DC launched last year and describes itself as a developer of high-performance data centers optimized for AI and high-density computing workloads. H.I.G. Capital acquired a majority stake in the company in October last year. Streif Capital Partners is the debt advisor to the company.
Palistar's Digital Infrastructure Deals
Palistar Capital is a New York-based alternative asset manager founded in 2019 that invests in towers, fiber networks, data centers and easements, according to akta.pro company records. The same records put its assets under management at $3.1 billion as of March 31, 2025.
| Date | Event | Amount |
|---|---|---|
| 2026-04 | Co-led credit facility to LiveOak Fiber alongside Oak Hill Advisors | $425 million |
| 2026-02 | Formed Galaxi Towers as a new entity for bespoke macro wireless infrastructure | Not stated |
| 2025-05 | Junior debt financing for UK network provider Netomnia | £160 million |
Data Center Financing Elsewhere
Poste Italiane launched a €600 million co-investment fund for data centers, approved by the Bank of Italy in September, The Next Web reported on November 12, 2026. Infra and HUMAIN signed two financing agreements totaling up to SAR 2.5 billion ($667 million) for AI computing capacity and energy infrastructure in Saudi Arabia, Argaam reported on November 9, 2026.
EdgeCore Digital Infrastructure completed a $521 million asset-backed securitization backed by its SV01 data center in Santa Clara, California, Pulse 2.0 reported on November 5, 2026. Axelerated Solutions and BIM Capital signed an agreement to launch a SAR 675 million (about $180 million) closed-ended fund for two AI data centers, Dealroom.co reported on November 5, 2026.
Polar DC's June Bond Issuance
Polar DC secured an €800 million Nordic bond issuance in June 2026 to fund delivery of its contracted Norwegian developments, including DRA02 and HER01.