I Squared Capital acquires Brazilian Elea data centers

I Squared Capital acquires Elea Data Centers in Brazil, expanding its Latin American digital infrastructure and AI-ready capacity.

• Elea operates nine campuses with over 300MW powered land
• Deal targets expansion of AI-ready digital infrastructure in Brazil

The fact

I Squared Capital, a global infrastructure investment manager, has agreed to acquire Elea Data Centers, a carrier-neutral platform operating nine campuses across São Paulo, Rio de Janeiro and Brasília. Elea has over 300MW of powered land and more than 1GW under development, requiring over US$10bn in capital.

The Assessment

The deal expands I Squared Capital's presence in Latin America's digital infrastructure sector. Elea's pipeline, including AI-focused builds, aligns with rising regional demand for cloud and compute capacity. The transaction reinforces Brazil's role as a key growth market where renewable energy availability and structural undersupply are shaping investment flows.