A consortium led by Blackstone, a global alternative investment firm, is nearing a deal to acquire Australian data center operator AirTrunk for approximately $13.5 billion, including debt. If finalized, this acquisition would mark one of the largest digital infrastructure deals of the year and solidify Blackstone’s position as a major player in the data center industry.
AirTrunk, established in 2010, has rapidly grown to become a leading data center operator in the Asia-Pacific region. The company strategically operates in key locations such as Sydney, Melbourne, and Singapore, serving a diverse customer base of cloud service providers, hyperscalers, and enterprises. Blackstone’s acquisition of AirTrunk would provide the firm with a significant footprint in a high-growth market, expanding its exposure to the growing demand for data center capacity in the region.
The consortium led by Blackstone includes several prominent institutional investors, such as the Canada Pension Plan Investment Board (CPPIB). The strong participation of these investors, who have shown confidence in the long-term growth prospects of the data center industry and the appeal of AirTrunk’s assets, is a testament to the industry’s potential.
The acquisition of AirTrunk aligns with Blackstone’s broader strategy of investing in digital infrastructure assets. In recent years, the firm has made several significant investments in the data center sector, recognizing these facilities’ critical role in supporting the digital economy. By acquiring AirTrunk, Blackstone would add a high-quality asset to its portfolio and further diversify its technology sector exposure.
The acquisition of AirTrunk is expected to be completed in the coming weeks, subject to regulatory approval and customary closing conditions. Once the deal is finalized, Blackstone will become the majority shareholder of AirTrunk, with the existing management team remaining in place to oversee the company’s operations.
The acquisition of AirTrunk by Blackstone is a significant milestone for both companies. For Blackstone, it represents a significant investment in a high-growth market and further strengthens its position as a leader in the digital infrastructure sector. For AirTrunk, it provides the company with the resources and expertise to accelerate its growth plans and expand its operations in the Asia-Pacific region.
