Digital infrastructure company ITG, backed by Oaktree Capital Management, is targeting a valuation of up to $2.67 billion in its Nasdaq market debut, positioning the listing as a play on AI-driven demand for data centre capacity and fibre connectivity.

Key Highlights

  • Oaktree-backed ITG is targeting a $2.67 billion Nasdaq valuation as an AI data centre infrastructure investment vehicle.
  • The listing joins a growing queue of infrastructure issuers capitalising on elevated investor interest in the AI buildout theme.
  • Pricing will benchmark ITG against comparable data centre REITs and infrastructure platforms with contracted revenue profiles.

The company joins a growing queue of infrastructure and technology issuers capitalising on elevated investor interest in the AI buildout theme, where listed vehicles providing infrastructure exposure with contracted revenue streams have attracted premium multiples. The mid-2026 IPO window has proved receptive to this category.

The Oaktree backing provides a significant sponsor credential for the roadshow, given the alternative asset manager's track record in infrastructure and credit investing. Institutional investors will be assessing ITG's contracted revenue profile, customer concentration, and growth visibility against comparable listed data centre and connectivity infrastructure platforms.

The success of the ITG listing will provide a further read-through for the appetite of public market investors to absorb the volume of AI-adjacent infrastructure supply currently coming to market, at a moment when concurrent listings are testing available institutional capital allocation capacity.