Bain Capital is in the market to sell a significant minority stake in Bridge Data Centres (BDC), seeking to divest at least 40% of the Singapore-based data infrastructure builder in a transaction that would imply a $5 billion enterprise valuation, people familiar with the matter said.
The Boston-headquartered investment firm has appointed Citigroup and JPMorgan to run the sale process, and the effort has attracted attention from a range of private equity and infrastructure investors, the sources added. One of the people said indicative bids are due by the middle or the end of next month. The sources emphasized the information was confidential and declined to be identified.
According to the same people, Bain Capital would be open to selling a larger stake, and potentially a controlling interest, if it receives an attractive offer. However, the buyout firm is not expected to completely exit BDC at this time. Bain Capital, Bridge Data Centres, Citigroup and JPMorgan declined to comment.
Investors have been deploying increasing capital into data centre assets across Asia, driven by heightened demand for cloud computing, artificial intelligence and digital services. That surge in underlying demand has prompted an aggressive pace of capacity expansion in the region and has made data centres among the most sought-after infrastructure investments in Asia.
Recent headline transactions underline the intensity of investor activity in the sector. In February, a consortium led by KKR and Singapore Telecommunications agreed to pay S$6.6 billion in cash - equivalent to $5.2 billion - to acquire full control of ST Telemedia Global Data Centres. In September, Vantage Data Centers secured a $1.6 billion capital injection led by an affiliate of Singapore's sovereign investor GIC and a unit of the Abu Dhabi Investment Authority to support its Asia Pacific expansion.
Dealogic data show that merger and acquisition transactions targeting data centres globally totalled $98 billion in 2025, with Asia Pacific accounting for 11% of that figure. The region's share of global data centre deal volume this year has risen to 45% so far, reflecting a notable shift in where deal activity is concentrated.
Bridge Data Centres describes its core capability as building very large, scalable data infrastructure commonly referred to as hyperscale sites - facilities designed to hold thousands of servers and to be expanded with relative ease. In addition to hyperscale facilities, BDC constructs bespoke buildings and co-location data centres, where customers can lease a portion of a facility rather than an entire site.
The company states it serves global technology customers and major cloud service providers, without naming specific clients, and operates facilities in Malaysia, Thailand and India.
BDC traces its origins to a partnership formed about a decade ago between industry executives Michael Foust and Kris Kumar and Bain Capital. In 2019, Bain merged the firm into the Chinese data-centre operator Chindata and the combined company listed on the Nasdaq in 2020. The two entities were separated again after Bain took Chindata private in 2023 in a transaction valued at $3.16 billion, creating a new entity called WinTriX.
In January, Bain finalized the sale of Chindata to a consortium led by Shenzhen Dongyangguang Industry Co, a deal that valued the business at $4 billion. Currency conversion cited in the context of regional transactions used the rate of $1 = 1.2753 Singapore dollars.
Separately, promotional copy included in the original source referenced investment research on an unrelated ticker, asking whether an investor should place $2,000 into BCSS and describing an AI-driven model called ProPicks that evaluates BCSS alongside other companies. That material outlines the model's approach to assessing fundamentals, momentum and valuation, and references past winners. The promotional section also included an invitation to explore whether BCSS is featured in ProPicks strategies or if other opportunities exist in the same space.
The sale process for BDC is unfolding against a backdrop of heightened investor interest and significant capital deployment into Asia's digital-infrastructure sector. Indicative offers and the ultimate structure of any transaction will determine how ownership of BDC evolves, and whether Bain reduces its position or transfers a controlling stake will depend on the pricing and terms that emerge through the marketed sale.