Csquare, which is backed by Brookfield Infrastructure, has confidentially submitted a draft registration statement to the US Securities and Exchange Commission, Reuters reports. The number of shares and price range have not been set yet.
Csquare was created in early 2024 when Brookfield Infrastructure merged Evoque Data Centre Solutions with the assets it bought from Cyxtera Technologies.
Evoque was founded in 2019 after Brookfield acquired AT&T’s colocation assets for $1.1 billion. Cyxtera’s data centres were first bought from CenturyLink in a $2.8 billion deal. Cyxtera filed for Chapter 11 bankruptcy in 2023, and Brookfield then acquired it for $775 million.
Based in Dallas, Csquare offers space, power, and connectivity for enterprise and hyperscale customers. It operates more than 80 data centres in 30 markets across North America and Europe. The company has over 500MW of operational capacity, with 200MW ready for near-term expansion. Its clients include companies in technology, financial services, healthcare, and media.
In October 2025, Csquare bought ten more data centres in the US and Canada for $1 billion, adding locations in Dallas, Boston, Nashville, Raleigh, Toronto, and Montreal. In August 2025, it raised $815 million through a bond issue to keep growing its portfolio.
Csquare’s managed colocation business competes directly with Equinix, which was valued at about $95 billion at the time of the filing, as well as with Digital Realty. It also faces competition from private firms such as 365 Data Centres and DataBank.
Morgan Stanley and TD Securities are leading the IPO. This step will provide Brookfield with a public valuation for one of its largest infrastructure projects in the past 10 years.
