Private-equity giant TPG agrees to invest $1 bn in TCS’s data centre business

American private-equity giant TPG has agreed to invest $1 billion in Tata Consultancy Services’ data centre business, as the country’s largest information technology services company looks to entrust a Tata Group executive with heading the business.

San Francisco-based TPG, which has $286 billion in assets under management, agreed to invest ₹8,820 crore to pick up a 49% stake in HyperVault AI Data Centre, the subsidiary TCS set up last month as part its plan to build 1 GW of data centre capacity by 2031. TCS will own the remaining 51%.