NxN is a next-generation data centre platform based in Spain and formed in 2023, as a joint venture between Nethits Telecom Group (“Nethits”) and asset manager Adequita Capital (“Adequita”). The platform was designed to serve the growing storage and computing demand in Spain, with a particular focus on regional enterprise customers.
The aim of the platform is to create a network of highly efficient, hyperconnected data centres, providing infrastructure services tailored to the computing and storage needs of businesses, essential in the era of AI and exponential digitalisation.
InfraRed, alongside minority investor Adequita, will support the development of NxN’s first asset, a 5MW facility located in Valencia, as well as ongoing expansion opportunities across the Iberian peninsula. Construction has commenced at the Valencia facility, which is scheduled to open in 2027. Once operational, the data centre will deliver high-quality, AI-ready, energy-efficient colocation solutions for public and private clients across the region.
Spain offers an attractive environment for data centre development. The market remains underserved and has abundant renewable energy sources. Enterprises are driving demand for secure, locally compliant IT infrastructure, fuelled by accelerating digitalisation and increasing data sovereignty requirements.
Pilar Banegas, Partner at InfraRed, commented: “NxN represents an exceptional opportunity to establish a data centre platform within Spain’s fast-growing digital landscape. We are pleased to be working with Adequita, whose experience and relationships across Spain will be valuable for scaling the company. We will also draw on our experience developing nexspace, our DACH data centre business, as we support the impressive NxN leadership in building this investment.”
NxN’s management team comprises highly experienced professionals with deep expertise in telecoms, data centre operations, and enterprise sales. The team has a proven track record and is well equipped to execute the company’s growth strategy.
Javier Salas, Founder and Executive Chairman of both Nethits and NxN Data Centers, said: “We are delighted to partner with InfraRed to deliver high-quality, energy-efficient data centres in Spain. By leveraging InfraRed’s experience in growing data centre businesses, we are well positioned to execute our vision for NxN: to deliver best-in-class data centre infrastructure supporting Spain’s digital transformation. This initiative is underpinned by the extensive track record that Nethits has built over more than 20 years in the telecommunications sector.”
Josep Adsera, Principal at Adequita, commented: “We welcome InfraRed as the majority investor in NxN. Their investment not only reinforces the strength of the NxN platform, but also enables it to accelerate its next phase of growth. We look forward to working closely together to continue delivering resilient infrastructure solutions and long-term value for all stakeholders.”
ENDS
About InfraRed Capital Partners (“InfraRed”)
InfraRed is a leading international mid-market infrastructure asset manager. Over the past 25 years, InfraRed has established itself as a highly successful developer, particularly in early-stage projects, and an active steward of essential infrastructure.
InfraRed manages US$13bn of equity capital[1] for investors around the globe in listed and private funds across both core and value-add strategies.
InfraRed combines a global reach, operating worldwide from offices in London, Frankfurt, Madrid, New York, Sydney and Seoul, with deep sector expertise from a team of more than 160 people.
InfraRed is part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life, and benefits from its scale and global platform.
For more information, please visit www.ircp.com.
[1] Uses 5-year average FX as at 30th June 2025 at GBP/USD of 1.2851; EUR/USD 1.1071. EUM is USD 13.217m.
About Nethits Telecom Group (“Nethits”)
Nethits specialises in the deployment of advanced technological solutions in the telecommunications field, including having executed a nationwide roll out of fibre assets and data centre management experience.
Founded by Javier Salas in 2006, Nethits has served over 500k client assets across 4 continents. Nethits sold its digital infrastructure assets to MasMovil in 2019.
About Adequita Capital Limited (“Adequita”)
Adequita is an established UK-based asset management firm. Adequita combines deep corporate finance expertise with active investment capabilities to drive long-term value creation across real assets and private equity solutions. Grounded in value-based management, the firm partners with entrepreneurs, family offices, corporates and institutional investors to design and execute transformative strategies across private markets and venture building.
Adequita maintains a differentiated approach to investing in early-stage businesses, having shown a consistent track record of building and managing investment platforms for sustainable growth, with a portfolio spanning real estate, hospitality, digital infrastructure and new energy.
Companies incubated and co-founded by Adequita in Spain include the residential REIT Advero Properties and the hospitality joint venture behind UMUSIC Hotels.
Adequita is authorised and regulated by the UK Financial Conduct Authority.
