SERT Invests an Additional €50 Million in AiOnX to Expand Its Footprint in the Data Centre Sector

NewTimeSpace News: On March 26, 2026, SERT issued an announcement stating that it has invested an additional€50 million in AiOnX, the data centre development platform under the SWI Group, via an MCL through its subsidiary SEBT. Together with the€50 million common equity investment made in June 2025, the total investment has reached€100 million.

The transaction terms show that the principal of this MCL is€50 million with an annual coupon rate of 7.25%, payable in cash semi-annually, and a tenor of seven years. The loan is convertible into AiOnX common equity at a substantial discount, with a maximum multiple of invested capital (MOIC) of 2.0x, and includes anti-dilution protection provisions. Following the investment, its exposure to the data centre sector has risen from 5.2% to 7.2%, further advancing its medium-term goal of achieving a 15%-25% exposure to the sector.

Simon Garing, CEO of SERT, stated that this investment balances immediate coupon income with long-term value growth. AiOnX has five data centre projects with a potential total gross development value of over€30 billion, and SERT will continue to expand its layout through a "twin-track strategy".

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