Penta Infra has a new investor.

PGGM, which invests on behalf of Dutch pension fund PFZW, has acquired a 49 percent stake in the European data center provider.

The stake was acquired from Photon Capital, an investor that has been involved with Penta Infra since its inception.

Bob Sprengers, CEO at Penta Infra, said: “We are proud to welcome PGGM as a shareholder while continuing our successful partnership with Photon Capital. The demand for data centers will only increase in the coming years and with Photon Capital and PGGM as partners, we can further accelerate our European strategy.”

Matthijs Lakerveld, director of Digital Infrastructure at PGGM, added: “As a player in the rapidly growing data center market, Penta Infra is a perfect addition to our existing investments in European digital infrastructure. It fits well with the mission we fulfill for PFZW: investing in the infrastructure of our economy that generates good, stable returns for the participants in the fund.”

Penta Infra has data centers across Europe, including Germany, France, the Netherlands, Belgium, and Denmark.

Last year the company bought Sungard’s data center and colocation business in Paris, France. This year has seen Penta Infra acquire a KPN data center in Amsterdam, a facility in Brussels, Belgium, and announce plans to build a 20MW data center in Copenhagen, Denmark.