Nexus Data Centers has reached a Final Investment Decision (FID) for the first phase of its multi-phase data center and behind-the-meter power generation campus in Hubbard, Texas, after securing new financing led by Eagle Point Credit Management.

The financing completed the capital structure for the project’s first phase, enabling Nexus to reach FID and marking a major milestone as construction continues.

Eagle Point directly originated a new HoldCo loan to a Nexus subsidiary and served as lead investor in the financing. The transaction represents the latest step in the financing partnership between the two companies as the Hubbard campus advances from pre-notice-to-proceed development toward its next phase.

Jennifer Powers, Principal and Head of Infrastructure Credit at Eagle Point, said the financing marked a significant milestone for both the company’s infrastructure platform and its relationship with Nexus.

“Serving as the lead investor for the HoldCo financing represents a key milestone in the expansion of Eagle Point’s infrastructure platform and the strength of our relationship with Nexus,” Powers said.

According to Eagle Point, the financing enabled Nexus to reach FID in less than a year. The company said growing demand for large-scale artificial intelligence and hyperscale infrastructure is increasing the importance of projects that can deliver computing capacity quickly.

The Hubbard development combines data center infrastructure with behind-the-meter power generation. Providing a model designed to support the substantial energy requirements of large-scale AI and hyperscale computing.

Four Financings Support Hubbard Campus Development

Ivan Van der Walt, Chief Executive Officer of Nexus Data Centers, said Eagle Point has supported the project throughout its development.

“Eagle Point has been a key partner to Nexus at every stage of the project,” Van der Walt said. “Their nimble investment team and deep industry knowledge enabled us to complete our capital structure at a critical moment, and their continued support across four financings has been instrumental in reaching this milestone.”

The latest transaction represents Eagle Point’s fourth financing supporting Nexus, according to the companies.

Neither company disclosed the value of the new HoldCo loan. However, the financing completed the capital structure required for the first phase and enabled Nexus to make its Final Investment Decision.

The milestone allows the Hubbard campus to continue construction as Nexus advances its broader multi-phase development.

For Eagle Point, the transaction also expands its infrastructure credit platform. The firm said it focuses on directly originating and structuring infrastructure credit opportunities with downside protection and long-term value creation.

Texas continues to attract major investment in digital infrastructure as developers and investors pursue increasingly large AI and hyperscale campuses. While Nexus has reached FID and continues construction in Hubbard, InfraTech Capital is advancing a proposed $2.7 billion investment in a 5,000-acre data center campus in Carson County, Texas, near Amarillo.

Nexus has not disclosed the project’s total investment, planned data center capacity, generating capacity or construction schedule in this announcement.

Project Factsheet: Nexus Hubbard Data Center and Power Campus

• Location: Hubbard, Texas
• Development: Multi-phase data center and behind-the-meter power generation campus
• Current milestone: First phase reaches Final Investment Decision
• Construction status: Construction continues
• Latest financing: New HoldCo loan led by Eagle Point Credit Management
• Financing role: Eagle Point directly originated the loan and completed the first phase’s capital structure
• Previous support: Eagle Point has supported Nexus through four financings
• Project stage: Advanced from pre-NTP development to FID
• Capacity and cost: Not disclosed
• Timeline: Not disclosed