BlackRock and IFM Investors in Exclusive Talks for $25 Billion Stack Infrastructure Data Center Deal

BlackRock-Led Consortium Targets Stack Infrastructure Asia Pacific Data Center Portfolio

A consortium led by BlackRock and IFM Investors has entered exclusive talks to acquire Stack Infrastructure's Asia Pacific data center portfolio in a deal valued between $20 billion to $25 billion1

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. The investor group includes the BlackRock-backed Artificial Intelligence Infrastructure Partnership (AIP) and is preparing to conduct due diligence on assets owned by Blue Owl Capital. This marks one of the largest data center deals in the region as global investors pour capital into AI-related infrastructure to capture surging demand for cloud computing and AI services.

Strategic Assets Across Key Asia Pacific Markets

Stack Infrastructure operates critical facilities across Tokyo, Osaka, Sydney, Melbourne and Johor Bahru, Malaysia, positioning the portfolio as a strategic gateway to Asia's fastest-growing digital markets2

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. The Denver-based company has built a substantial presence in these locations, which serve as primary hubs for cloud computing and digital services in the region. Blue Owl Capital initially sought a valuation exceeding $30 billion for the portfolio when it began exploring options in May, though current negotiations suggest a revised range2

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. The consortium aims to finalize an agreement soon, though deliberations remain ongoing and could face delays or collapse entirely.

AIP's Aggressive Push Into AI Infrastructure

The Artificial Intelligence Infrastructure Partnership launched in late 2024 with plans to deploy more than $30 billion in AI-related projects, making it one of the world's largest investment vehicles focused on data centers and energy facilities needed to power AI applications1

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. AIP counts Nvidia, xAI, Microsoft, and investment firm MGX among its backers, alongside Kuwait Investment Authority and Temasek1

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. The partnership's first major transaction was the $40 billion acquisition of Aligned Data Centers announced in October, demonstrating its commitment to scaling infrastructure capacity rapidly2

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Why This Data Center Deal Matters for AI Growth

This transaction reflects intensifying competition for physical infrastructure capable of supporting the computational demands of artificial intelligence. Asia Pacific represents a critical battleground where cloud providers and AI companies require massive data center capacity to serve growing user bases and train increasingly sophisticated models. The BlackRock and IFM Investors consortium's move signals confidence that demand will continue accelerating, justifying premium valuations for strategically located facilities. Watch for how this acquisition influences pricing across the sector and whether other institutional investors follow with similar mega-deals targeting AI-related infrastructure in high-growth markets.