Data center investment management firm Cloud Capital says it established a joint venture with Realty Income and an undisclosed global institutional investor. The JV is seeded with three initial investments valued at more than $6 billion, according to Cloud Capital, and focuses on stabilized hyperscale assets leased to investment-grade tenants on long duration. "Drawing on more than 30 years of investing in and leasing some of the world's largest data centers through multiple cycles, I have seen firsthand the importance of acquiring and developing high-quality assets and long-term tenant relationships," Cloud Capital CEO Hossein Fateh says. "We believe this positions our partners to benefit from exposure to highly strategic data centers underpinned by accelerating demand for cloud and AI applications." (connor.hart@wsj.com)