TPG Reportedly in Talks to Buy UK's Ark Data Centres at About $5B
TPG's talks to buy Ark Data Centres from Elliott were reported by the Financial Times; Reuters could not verify them. Ark runs 27 data centers in the UK and Belgium, with no megawatt figure given.
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The $5 billion figure is reported by the Financial Times and unconfirmed; Ark runs 27 data centers in the UK and Belgium.
Illustration (AI-generated)
TPG is reportedly in talks to buy Ark Data Centres, the British data centre group, from Elliott Investment Management at a valuation of about $5 billion, the Financial Times reported on Oct. 28, citing people familiar with the matter. Reuters, which relayed the report, said it could not verify it.
Discussions are ongoing and a deal is not guaranteed, according to the FT as described by Reuters. TPG and Ark Data Centres did not immediately respond to Reuters' requests for comment outside business hours, so neither side has confirmed the talks.
For operators and investors, the figure matters because it prices a UK platform rather than a single site. Institutional Real Estate, citing the FT, said Ark runs 27 data centers across the United Kingdom and Belgium. None of the reports Voltgrid read gives a megawatt figure, so the $5 billion cannot yet be set against capacity, power contracted or land.
What TPG would be buying
Ark has a joint venture with the UK government's Cabinet Office, called Crown Hosting Data Centres, which Reuters said gives it access to all UK public data centre requirements. That makes part of Ark's demand public-sector colocation, not only AI or cloud tenants. The reports do not say how much of its revenue or capacity comes from that venture.
Elliott acquired Ark in 2012. Reuters reported last year that Elliott was exploring strategic options for the unit, in a possible sale that could fetch more than $4 billion. A reported $5 billion would be roughly a quarter above that earlier marker, though the two figures come from different reports and the basis of each is not stated.
The reported $5 billion compares with the more than $4 billion Reuters reported in 2025, according to Reuters and the FT; neither figure is confirmed.
Illustration (AI-generated)
Why it matters for UK capacity
Ownership changes at an existing operator add no new megawatts to the UK grid queue. Voltgrid News reported earlier on Microsoft dropping an Nscale site as the UK grid slips, which shows how scarce connected capacity is. They decide who funds the next expansions on sites that are already energized. The buyer of a 27-site platform takes on its grid connections and its tenant contracts, which is where a UK data centre business holds its value.
What is not confirmed yet
The deal is not agreed, and TPG, Ark and Elliott have not commented in the reports Voltgrid read. The valuation comes from people familiar with the matter, and the reports do not say whether it includes debt. There is no timetable, no capacity figure and no financing structure. A signed agreement, or a denial from any of the three parties, would settle the status of the talks.
