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Principal® closes $3.64 billion capital raise for Data Center Growth & Income Fund

1. PFG raised $3.64 billion for a data center investment fund. 2. Fund exceeds targets and attracts diverse global investors.

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Why Bullish?

The significant capital raised indicates strong investor confidence in PFG's growth strategy, potentially boosting stock price. Previous successful fund raises have historically led to positive market reactions for similar firms.

How important is it?

The successful close of this fund highlights PFG's strategic direction and operational capabilities, suggesting a strong ability to generate future growth, which is critical for investors.

Why Long Term?

The development of a data center portfolio suggests sustainable income and growth potential over several years, improving PFG's long-term valuation.

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DES MOINES, Iowa--(BUSINESS WIRE)--Principal Asset Management℠, the investment management unit of Principal Financial Group®, reached the final investor close on February 28 for its Principal Data Center Growth & Income Fund (the Fund), which is dedicated to the development of a portfolio of hyperscale data center projects across the United States. The Fund raised $3.64 billion, well in excess of the target from a diverse global investor base. This is the third discretionary data center-foc.

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