Monday, June 17, 2024

Everyone Wants Asia-Pacific Data Centers: BlackRock's GIP Joins Blackstone, Others, Bidding For Australia's AirTrunk

Following on the story immediately below, "Malaysia is emerging as a data center powerhouse amid booming demand from AI" we see this at Data Center Dynamics, June 17:

GIP, Blackstone, DigitalBridge, and others make bids for AirTrunk
Bids for AU$15bn company submitted over the weekend

The race to acquire APAC data center operator AirTrunk has accelerated, with bidders reportedly submitting offers for the company.

AFR reports Macquarie Capital and Goldman Sachs collected first-round bids over the weekend for the company’s owners, Macquarie Asset Management and Canada’s PSP Investments.

Canada Pension Plan Investment Board (CPP), Blackstone, and an IFM Investors and DigitalBridge partnership have tabled non-binding indicative offers for AirTrunk AFR reported, adding that GIP has also made a non-binding indicative offer.

Credit Agricole, Deutsche Bank, HSBC, and MUFG are said to be underwriting a $7 billion ready-to-use debt package for bidders.

APAC-focused operator AirTrunk was founded in 2016 with plans to develop hyperscale data centers in Australia. The company opened its first facility in Sydney in 2017. Since then, the company has expanded across the region, operating and developing campuses in Australia, Hong Kong, Japan, Malaysia, and Singapore.

Macquarie and PSP currently hold a combined 88 percent stake in the company....


 Earlier this year when BlackRock bought Global Infrastructure Partners we noted:

January 2024: BlackRock Goes Large-by-Large In Infrastructure (BLK)"

 January 2024: "BlackRock Acquisition Triples Its Business of Building Airports, Roads, and Utilities"

January 2024: "Investors look set to pour cash into infrastructure following BlackRock acquisition" (BLK)

January 2024:  "KKR raises $6.4 bln for its Asian infrastructure fund" (KKR)

Following that burst of enthusiasm, and just to pound the point home in February:

The Infrastructure Theme Is For Real (PWR)