Ownership and potential deal scrutiny
The companies declined to comment to the Financial Times. Elliott has controlled Ark since acquiring it in 2012, while European real estate investor Revcap holds a minority interest.
A possible sale of at least part of Elliott's stake has been reported several times, including in 2022, 2023 and 2025. The 2023 report put Ark's valuation at £2.5 billion ($3 billion), followed by £3 billion ($4 billion) in 2025.
At the valuation now under discussion, an acquisition would be among the world's five largest data center purchases of 2026, according to Synergy Research Group, as reported by Hedgeweek on October 28. Global data center deal activity had already reached $89.4 billion this year, 50% above the total for all of 2025.
MarketScreener reported on October 28 that a TPG purchase could draw scrutiny under the UK's National Security and Investment Act. Digital infrastructure falls within the law's 17 sensitive sectors, where buyers need government approval before completing a transaction. The government can review deals that could threaten national security, impose conditions or block them.
TPG's data center investments
TPG, established in 1992, manages more than $245 billion in assets. The private equity firm invests across industries and technologies, with recent telecommunications and communications infrastructure investments made through its TPG Peppertree business.
The firm's data center investments began in 2019 through its real estate investment platform, Hedgeweek reported on October 28. Its holdings also include telecom and fiber businesses, and it backs the large Quantum Frederick data center park in Maryland.
TPG invested in Tata's new HyperVault data center venture this year and has recently been rumored to be considering a purchase of US operator Netrality Data Centers for as much as $3 billion. Hedgeweek also reported that TPG has expanded its AI-related investments, including a stake in cloud infrastructure provider Crusoe.
Ark's operating footprint
Ark was founded in 2005. Its portfolio spans nine locations in the UK and Belgium, with 27 data centers either operating or under development and total capacity exceeding 560 MW. It is separate from the US operator also named Ark, which was previously called Involta.
Its operating UK campuses include Farnborough's Cody Park, Meridian Park in north London and Spring Park in Corsham, Wiltshire. Union Park and Alliance Park are among its development projects in west London.
At Meridian Park, electricity comes through a direct connection to a neighboring energy-from-waste plant run by London Energy. Ark also operates Crown Hosting Data Centres with the UK Cabinet Office, a joint venture serving UK government departments and agencies.
Expansion plans and planning decisions
Wiltshire Council approved a seventh data center at Spring Park in February 2026. The 294,000-square-foot (27,350-square-meter) building received permission despite flooding concerns and more than 1,100 objections from residents. Ark said it would create 87 jobs.
In June, Ark announced an £807 million ($1 billion) expansion of Longcross Park in Surrey to accommodate a larger deployment by AI cloud provider Nebius. Of that amount, Ark had committed £335 million and earmarked another £472 million. The approved plans call for vertical extensions to existing buildings and a separate 36 MW facility, LP02.
Another proposal, for Hilfield Park on Watford's former Mercure Hotel site, had received a recommendation for approval from Hertsmere Borough Council planning officers by late October. Ark says the campus would unlock more than £2.5 billion in private investment and contribute £372 million to the local economy each year.
The Hilfield Park application attracted 1,184 objections and four comments in support. Councillors are scheduled to make the final decision at a November 5 planning meeting.
