Expert Spotlight: Taylor Dixon at the 2026 TMT Finance USA Conference

Key Takeaways from TMT Finance USA

As demand for digital infrastructure continues to accelerate, the data center market is attracting new investors, creating opportunities for dealmakers, and introducing greater complexity into the M&A process. At the TMT Finance USA 2026 Conference in New York, Senior Vice President at Datasite, Taylor Dixon, joined the panel Datacenter Leaders: What Does a Liquid Datacenter Market Look Like in 2026? to share insights on shifting investment trends, rising deal activity, and the challenges shaping data center transactions.

Moderated by Melissa Kalka, Partner, Mergers & Acquisitions at Kirkland & Ellis, the discussion brought together industry leaders, including:

• Taylor Dixon, Senior Vice President, Datasite
• Kevin Mammel, CFO, Rowan Digital Infrastructure
• Zach Gellman, Managing Director, DigitalBridge
• Joe Valenti, Managing Director and Co-Head of Global Media & Telecom Investment Banking, Bank of America

A Changing Data Center Investment Landscape

As data centers become an increasingly attractive asset class, the pool of potential investors is expanding beyond traditional infrastructure and private equity funds.

Dixon highlighted a notable shift in the makeup of buyers participating in data center transactions on Datasite. While large infrastructure and mega-funds represented approximately 60% of participants two years ago, that figure dropped to 30% in 2026. Meanwhile, 60% of buyers entering Datasite's data center rooms this year had never previously been invited to a data center transaction on the platform.

This expanding investor universe reflects growing interest in digital infrastructure, with new sources of capital seeking exposure to the sector. Fellow panelists echoed this trend, noting that the increasing scale of data center platforms is encouraging more minority investments and partnerships as companies seek additional capital to support development.

Data Center Deal Activity Rises as Due Diligence Intensifies

While investor interest continues to grow, data center transactions are becoming increasingly complex.

According to Dixon, data center deal kickoffs on Datasite have increased by upwards of 40%, reflecting strong transaction activity. However, the deal process for larger data center deals can take between 12 and 18 months, compared to approximately six months for transactions in other sectors, including technology, software, and consumer goods.

These extended timelines highlight the unique challenges involved in evaluating data center investments. Unlike more traditional transactions, data center deals require buyers to assess a wide range of factors, from development pipelines and operational capabilities to power availability and tenant credibility.

As the panel discussed, the scale of these investments and the risks associated with development are prompting buyers to take a closer look at the underlying assets before committing capital.

Power Constraints Add New Complexity to Transactions

One of the biggest challenges facing the data center market is securing reliable power to support growing infrastructure needs. Dixon shared that power contracts and tenant credibility have become important areas of focus during due diligence. Notably, gas turbines emerged as the top search topic in Datasite's data center rooms in 2026, highlighting growing attention to alternative power solutions.

With some projects facing multiyear waits for grid connectivity, developers are exploring ways to generate power on-site and accelerate deployment. However, these alternatives can introduce additional challenges, including equipment availability and rising costs.

"These deals are being extremely scrutinized," Dixon said, emphasizing the increasing complexity of data center transactions.

Other panelists reinforced these concerns, emphasizing that power availability, labor constraints, and access to capital remain critical considerations as the industry works to meet growing demand.

What's Next?

As the data center market continues to evolve, Dixon's insights highlight both the opportunities and challenges facing dealmakers in 2026. Growing investor interest and rising transaction activity point to a dynamic market, while power constraints, complex financing structures, and more rigorous due diligence are reshaping how deals get done.

With digital infrastructure remaining a key area of investment, companies that prioritize preparation, understand evolving buyer expectations, and successfully navigate transaction complexities will be better positioned to capitalize on emerging opportunities.

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