China Ping An Insurance Overseas, a unit of insurance company Ping An Insurance Group, has revealed a $150 million equity commitment in carrier-neutral data center solutions provider GDS Holdings.
The commitment will be in the form of convertible preferred shares.
GDS Holdings will use the proceeds to finance the extension of its data center capacity and for general corporate purposes.
Ping An Overseas Holdings seeks to further extend its collaboration with GDS in areas such as financing and real estate.