ENERGY & INFRASTRUCTURE
SWI Group Completes Controlling Stake in US Digital Infrastructure Platform GDA
The listed investment group, advised by Morgan Stanley on the deal, is also moving up the value chain into AI compute and has restructured a previously announced partnership with Polarise.
SWI Capital Holding Ltd, listed on Euronext Amsterdam under ticker SWICH, has confirmed a strategic shift that has reshaped its business over the past year, with over 80% of the Group's capital now allocated to a transatlantic digital-infrastructure platform exceeding 4 GW, and ambitions to raise that share to 90%. With the assistance of Morgan Stanley & Co LLC as exclusive financial adviser, SWI Group has completed its pre-announced acquisition of a controlling stake of over 70% in Genesis Digital Assets, to be renamed SWI Digital and serve as the Group's US-focused digital infrastructure platform.
Two anchor platforms
SWI Group's digital infrastructure investments are anchored by two platforms: AiOnX, its European AI-infrastructure business developing hyperscale, AI-ready data-centre campuses across Ireland, the United Kingdom, Denmark, Spain and Italy, with one site already secured by a hyperscale tenant; and SWI Digital, its US-focused platform built on an energised and grid-connected land bank. The Group said it expects double-digit balance sheet growth in 2026.
Moving into AI compute
Beyond land and power, SWI Group said it is moving up the value chain into AI compute, developing an in-house proprietary AI-cloud platform to deliver GPU-accelerated compute to enterprises, research institutions and AI developers. Separately, SWI Group and Polarise have mutually agreed not to pursue the previously proposed majority-ownership transaction; instead, SWI Group will provide financing to accelerate Polarise's expansion, with the two entities remaining separately owned.
Other holdings retained
Formed through the merger of Icona and Stoneweg, SWI Group also holds European industrial and logistics real estate through Singapore-listed SERT, US multifamily residential through SIX Swiss Exchange-listed Varia US, and an opportunistic, asset-class-agnostic strategy including distressed situations. Max-Hervé George, co-founder and Chief Executive of SWI Group, said the creation of SWI Digital was "a defining step for the Group," while co-founder Jaume Sabater said completing the controlling stake in GDA was "the clearest demonstration of this strategy to date."