A U.S.-based bidding consortium is preparing to submit a final binding offer in the competitive Oaktree sale of a minority stake in Pure Data Centres Group, sources told Octus.
New York-based private equity and investment firm Snowhawk Partners is preparing a bid with global investment manager Nuveen, sources said.
Mubadala Investment, GIC Private Ltd. and Copenhagen Infrastructure Partners have also progressed to the second round for sale of the data center portfolio, as reported.
Final bids are due to be submitted by interested parties by Nov. 26, 2026, sources said.
Nuveen, an asset management arm of the Teachers Insurance and Annuity Association of America-College Retirement Equities Fund and Snowhawk, a digital infrastructure-focused private investment firm, are closely linked through ownership and co-investment.
In December 2023, Nuveen made a strategic investment in Snowhawk when it launched, giving it broader access to digital infrastructure opportunities. That relationship has since carried through to Snowhawk’s portfolio.
In May 2025, Nuveen joined CleanArc Data Centers as a minority growth partner, with Snowhawk remaining the majority stakeholder. In July 2025, the two made a joint strategic equity investment in Prime Data Centers, alongside existing backers including Macquarie Capital, Ares Management and Siemens Financial Services.
The bid for Pure would continue the pattern of Snowhawk sourcing the opportunity and Nuveen providing co-investment capital, sources said.
Octus has been tracking the Pure process, including the parties that placed bids in phase one.
Nuveen, GIC and CIP declined to comment on the matter, while Mubadala and Snowhawk did not respond to a request for comment by the time of publication.
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