Sovereign wealth funds, private equity funds and global infrastructure asset managers, including GIC Private Limited (GIC of Singapore), ADIA, Stonepeak, DigitalBridge Group, Inc. (NYSE:DBRG), KKR & Co. Inc. (NYSE:KKR) and Permira are among those tapped to acquire US buyout group The Carlyle Group Inc. (NasdaqGS:CG)?s 24.04% stake in Bharti Airtel Limited (BSE:532454)?s data centre arm, Nxtra Data Limited (NDL), people aware of the matter said. The Carlyle Group, among the world?s largest investment firms, is looking to sell the stake for INR 70,000 million-INR 75,000 million, valuing Airtel?s data centre unit at INR 240,000 million-INR 290,000 million ($3-3.5 billion, inclusive of debt), the people cited said.

Bharti Airtel owns 75.96% of Nxtra Data, a leading player in India?s data centre industry. Airtel has first right of refusal on the stake but is reckoned to have waived it, said the people cited.?Carlyle is working with Bank of America to help monetise its investment in Nxtra,? one of them said.

?A formal sale process will get launched in the coming days and non-binding bids are expected by end-March.? The buyout group had bought the stake in Nxtra Data for INR 17,880 million in July 2020.? The valuation translates to around 20-23 times the FY25 ebitda.

Once closed, this could become one of Carlyle?s biggest paydays from India, ? said one of the persons.Data centres are being viewed as long-term havens for investment, leading to a private equity rush.