(Bloomberg) — Blackstone is considering selling a pair of AirTrunk data centers in Sydney and Melbourne, following its acquisition of the company in December, according to people with knowledge of the matter.
The firm has held talks with advisers as it mulls the divestitures of the two stabilized data centers, which could each fetch roughly A$2 billion ($1.3 billion), said the people, who asked not to be identified discussing confidential information.
Proceeds from any sale of any data centers would be used to help fund the company’s growth, one of the people said. AirTrunk has also been mulling tapping the asset-backed securities market to fund its expansion plans.
A formal process has not yet begun, and no final decisions have been made, cautioned one of the people, adding that Blackstone could opt to retain the properties. TMT Finance previously reported Blackstone was exploring options for some AirTrunk assets.
Representatives for Blackstone and AirTrunk didn’t immediately respond to requests for comment.
Blackstone and Canada Pension Plan Investment Board agreed to acquire the data center operator from Macquarie Group and PSP Investments last year, in a deal valuing the firm at A$24 billion, including debt and planned capital expenditure.
Data centers have become a key target for investors, given the growth of artificial intelligence and stable returns offered by the asset class. The AirTrunk deal marked Blackstone’s largest-ever investment in Asia-Pacific and one of the biggest digital infrastructure transactions globally last year.
Blackstone CEO Steve Schwarzman has said the firm is “happy to invest even more to accelerate AirTrunk’s growth.”
