Blackstone Takes AI with AirTrunk Acquisition
Blackstonethe private equity giant, has launched a strategic operation to consolidate its leadership in the digital infrastructure needed to expand artificial intelligence (AI). Together with the Canada Pension Plan Investment Board (CPP)has struck a A$24 billion (US$16.1 billion) deal to the acquisition of AirTrunk, a leading data center operator in Asia-Pacific. However, before finalising the deal, it will need to get approval from the Australian Foreign Investment Review Board, given the involvement of foreign investors. If approved, it will be Blackstone’s largest investment in the Asia-Pacific regionat a pivotal time for the growth of cloud computing and AI.
With the acquisition of AirTrunk, Blackstone is adding to its already broad portfolio in the data center sector, which includes assets worth $55 billion spread across the globe. AirTrunk brings 11 strategically located data centers in Australia, Japan, Hong Kong, Singapore and Malaysia, further strengthening Blackstone’s presence in Asia Pacific. The company already has $70 billion in infrastructure projects underway, with global investment forecasts of $2 trillion over the next five years, half of which will be in the U.S. alone.
AirTrunk: Asia-Pacific Data Center Leader
Founded in 2015 in Sydney, AirTrunk has established itself as the leading data center operator in Asia-Pacific. Prior to the sale, 88% of the company was held by Macquarie Asset Management and Canada’s Public Sector Pension Investment Board. Following the acquisition, founder and CEO Robin Khuda will retain an undisclosed stake and continue to lead the company.
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