New York — December 18, 2025 — Element Critical today announced the launch of a new U.S. data center platform backed by 26North Partners, Arctos, Mercuria and Safanad, anchored by the acquisition of two enterprise data center facilities in Houston and Austin.
The platform is designed to meet growing demand driven by AI inference, digital workloads and power-constrained markets. Safanad has spent the past decade developing Element Critical into an enterprise data center provider. With 26North, Mercuria and Arctos, the platform will accelerate acquisitions, development and strategic expansion across top U.S. markets.
“Through this investment and data-center acquisition strategy, Element Critical will be well-positioned to support the needs of leading clients in technology, financial services, healthcare, energy and Fortune 500 companies,” said Element Critical CEO Ken Parent. “These Texas facilities will anchor our expansion into other top U.S. markets.”
“Digital infrastructure is precisely the kind of opportunity our next-generation alternatives firm was built to pursue,” said 26North Founder Josh Harris. “As AI, energy and data converge, we see an opportunity to support platforms with strong fundamentals and durable demand. We pride ourselves on aligning with innovative leaders such as Mercuria, Safanad and Arctos, who each bring complementary strengths, and structuring a partnership that traditional models can’t match.”
The partnership combines 26North’s thesis-driven alpha creation expertise and disciplined investment approach with Mercuria’s deep knowledge of energy markets and low-carbon power. It also brings together Safanad’s decade of operating experience and Arctos’s well-established track record of providing bespoke capital solutions.
“The intersection of AI, data, and energy is reshaping infrastructure demands. Our investment reflects Mercuria’s commitment to supporting digital infrastructure with innovative energy solutions,” said Mercuria’s CIO Brian Falik. “We’re partnering with industry leaders to power Element Critical’s expansion and help meet the evolving needs of enterprise clients.”
“We are proud to launch this next phase of Element Critical with partners who share our conviction in digital infrastructure and the evolution driven by AI,” said Safanad Founder and CEO Kamal Bahamdan. “Over the past decade, we have built Element Critical into a scaled, resilient platform and this new partnership readies us to grow even more rapidly.”
The partners aim to meet the surging demand from enterprises and the substantial capacity needs of AI inference and other next-generation technologies across financial services, healthcare, energy, technology and other sectors.
“We are thrilled to join forces with 26North, Mercuria and Safanad to catalyze Element Critical’s next stage of growth,” said Arctos Partner Ira Shaw. “With a customer-centric approach in colocation, Element Critical has firmly established itself within a thriving sector. This partnership marks a significant milestone for Arctos and our Keystone Real Assets strategy, as we invest into the future of digital infrastructure.”
Guggenheim Securities and Goldman Sachs acted as financial advisors to Safanad and King & Spalding acted as legal advisor. DLA Piper served as legal advisor to 26North. Kirkland & Ellis acted as legal advisor to the platform in connection with acquisitions of the Houston and Austin data centers. BofA Securities and Citizens Bank served as Joint Lead Arrangers and Joint Bookrunners, and Huntington National Bank served as Joint Lead Arranger for the transaction financing.
