Funds affiliated with Blackstone purchased a significant minority interest in Rowan Digital Infrastructure to accelerate development of sustainable hyperscale data center campuses. The investment is earmarked for expanding Rowan’s pipeline and capacity across multiple existing and new sites in the US, targeting 300 MW to over 1 GW facilities.

Blackstone contributed $2 billion on the equity side of Oracle’s $16.3 billion Michigan data center financing, with Pimco offloading part of its $14 billion debt package. The long-dated bonds in the structure are pitched at about 7.5% yield, underscoring strong investor demand for digital infrastructure assets.

Blackstone’s rising fee-based revenues and record $1.3 trillion assets under management have helped it navigate recent market volatility. Despite elevated valuation multiples and credit market concerns, the firm’s diversified fee income base underpins its capacity to absorb future downturns.