New York-based Wafra Inc. is acquiring a minority stake in Digital Colony, the digital investment management division of Los Angeles-based Colony Capital, as well as making an investment in Digital Colony. In total, it is expected that Wafra’s strategic investment will total more than $400 million in the Digital Colony platform.

Wafra’s investment will provide Digital Colony with permanent capital to pursue strategic investments across the digital infrastructure ecosystem, including cell towers, data centers, fiber, and small cells. Additionally, Wafra will also make capital commitments to Digital Colony’s current and future investment products to support and accelerate the growth of its investment management business.

Colony Capital plans to use the proceeds to invest in high-quality digital infrastructure assets that deliver consistent returns for Colony Capital shareholders and grow its digital investment management business by extending its equity franchise and launching new investment products.

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