Blackstone (with Canada Pension Plan Investment Board) → AirTrunk
completedBlackstone, through its real estate, infrastructure and tactical opportunities funds, agreed to acquire AirTrunk, the Asia-Pacific hyperscale data centre operator, in partnership with Canada Pension Plan Investment Board (CPP Investments), in a transaction with an implied enterprise value of over A$24 billion.
Blackstone cited surging demand for data centre capacity driven by cloud computing and AI, and viewed AirTrunk's platform across Australia, Japan, Malaysia, Hong Kong and Singapore as a scaled way to capture that growth in the Asia-Pacific region.
AirTrunk's founder and existing owners (including Macquarie Asset Management and PSP Investments) sold to crystallise value from the platform's rapid build-out and to bring in a partner with the capital base to fund continued hyperscale expansion.
Not applicable — AirTrunk was privately held and not listed.
Deal mechanics
Acquisition of the AirTrunk platform by Blackstone-managed funds alongside CPP Investments
Subject to customary regulatory approvals, including FIRB