BlackRock, IFM close in on $25 billion Stack data center deal, reportedly
BLK•A consortium backed by BlackRock and IFM Investors is in exclusive talks to buy Stack Infrastructure’s Asia-Pacific data center portfolio for up to $25 billion, reportedly. The discussions are ongoing and could be prolonged or fail to produce a deal.
1. Exclusive talks
The investor group, which includes BlackRock-backed Artificial Intelligence Infrastructure Partnership and IFM, is preparing to conduct due diligence and hopes to reach an agreement soon with Stack owner Blue Owl Capital.
2. Potential deal background
Stack operates data centers in Tokyo, Osaka, Sydney and Melbourne. Its Asia operations were previously considered for sale in a deal valued at more than $30 billion, and IFM and AIP were among potential bidders.
3. Investor group
AIP launched in late 2024 with plans to initially invest more than $30 billion in AI-related projects. Nvidia, xAI, Microsoft and MGX are also investors in the partnership.
