Blackstone Acquire Largest Apac Data Centre Platform Airtrunk Aud24 Bil
Blackstone, an American alternative investment management company, has announced its acquisition of data centre operator AirTrunk for A$24 billion. This is the largest investment Blackstone has made in the Asia-Pacific region, surpassing its A$8.9 billion takeover of Australian casino operator Crown Resorts in 2022.
Together with the Canada Pension Plan Investment Board, Blackstone will be purchasing AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board. The deal is still pending approval from the Australian foreign investment review board.
Currently, AirTrunk has a presence in Australia, Japan, Malaysia, Hong Kong, and Singapore, with a capacity of over 800 megawatts committed to customers. Additionally, the company also owns land that can support future growth of up to 1 gigawatt across the region.
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According to Jon Gray, the president and chief operating officer of Blackstone, the acquisition of AirTrunk is a crucial step in their goal to become the leading digital infrastructure investor in the world. This includes investing in data centres, power, and related services.
Sean Klimczak, global head of Blackstone Infrastructure, and Nadeem Meghji, global co-head of Blackstone Real Estate, said in a joint statement that prior to this acquisition, Blackstone had a portfolio of over US$55 billion in data centres, including facilities currently under construction, and over US$70 billion in prospective pipeline development.
The founder and CEO of AirTrunk, Robin Khuda, expressed excitement about the acquisition and looks forward to leveraging Blackstone and CPP Investments’ scale, capital, sector expertise, and network across various local markets to further support AirTrunk’s growth.