Blackstone Acquire Largest Apac Data Centre Platform Airtrunk Aud24 Bil
Blackstone, a leading alternative investment management company, has recently announced its agreement to acquire AirTrunk, a data centre operator, for A$24 billion ($21.05 billion). This deal, which marks Blackstone’s largest investment in the Asia-Pacific region, surpasses its previous A$8.9 billion takeover of Australian casino operator Crown Resorts in 2022. The acquisition is in partnership with the Canada Pension Plan Investment Board and involves purchasing AirTrunk from Macquarie Asset Management and the Public Sector Pension Investment Board. The approval of the Australian foreign investment review board is needed for the deal to proceed.
AirTrunk has a presence in several countries in the Asia-Pacific region, including Australia, Japan, Malaysia, Hong Kong, and Singapore. It currently has a committed capacity of over 800 megawatts for its customers and also owns land that can support future growth of up to 1 gigawatt across the region. This acquisition is a strategic move for Blackstone as it seeks to expand its digital infrastructure investments globally. Jon Gray, the president, and chief operating officer at Blackstone, states that AirTrunk is a crucial step towards their goal of being the leading digital infrastructure investor in the world, with a focus on data centres, power, and related services.
According to Sean Klimczak, the global head of Blackstone Infrastructure, and Nadeem Meghji, global co-head of Blackstone Real Estate, the company’s portfolio now includes data centres worth US$55 billion, both in operation and under construction, along with a prospective pipeline development of over US$70 billion. This acquisition would greatly contribute to Blackstone’s position in the digital infrastructure market, expanding its reach across various local markets.
Robin Khuda, the founder and CEO of AirTrunk, expressed his enthusiasm for the acquisition, stating that he looks forward to leveraging Blackstone and CPP Investments’ resources, expertise, and network to support AirTrunk’s growth and expansion. With Blackstone’s substantial capital and sector-specific knowledge, AirTrunk is set to continue its upward trajectory and solidify its position as a leading data centre operator in the Asia-Pacific region.
In other related news, Keppel, a Singapore-based multinational conglomerate, signed a memorandum of understanding with Mitsui Fudosan, a leading Japanese real estate company, to develop data centres in Japan and Southeast Asia. This partnership marks Keppel’s entry into the Japanese data centre market and underpins its plans to expand its data centre business in key growth markets. These developments highlight the growing importance of data centres in the rapidly evolving digital landscape and the significant investment opportunities they offer for companies like Blackstone and Keppel.
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