Elliott Management is in talks to sell UK-based Ark Data Centres to US private capital group TPG in a deal valued at approximately $5bn, potentially securing a significant return on an investment made more than a decade ago, according to a report by the Financial Times.

Discussions remain ongoing, with no guarantee of an agreement. Elliott, which first invested in Ark in 2012, holds a majority stake in the business, which operates 27 data centres across the UK and Belgium and provides infrastructure services to government agencies and major technology companies.

A transaction at the proposed valuation would rank among the five largest global data centre acquisitions this year, according to Synergy Research Group. Global data centre deal activity has reached $89.4bn in 2026, already exceeding the total recorded in 2025 by 50%, amid accelerating demand for digital infrastructure supporting artificial intelligence and cloud computing.

TPG has expanded rapidly into digital infrastructure through its real estate investment platform, entering the data centre sector in 2019. The firm has also increased its exposure to AI-related businesses, including investments in cloud infrastructure provider Crusoe.

For Elliott, a sale would mark a potentially substantial realisation from its long-held investment in Ark, reflecting the sharp increase in data centre valuations as institutional capital flows into the sector.