AirTrunk acquired by Blackstone & CPP Investments

Blackstone, alongside Canada Pension Plan Investment Board (CPP Investments), completed the acquisition of AirTrunk, executing the transfer of 100% of the platform’s equity from exiting infrastructure sponsors Macquarie Asset Management (MAM) and the Public Sector Pension Investment Board (PSP Investments). The transaction represents Blackstone’s largest single capital deployment in the Asia-Pacific region to date and materially expands CPP Investments’ global digital infrastructure portfolio. The acquisition financing was underpinned by a bespoke, multi-tranche syndicated debt package, with RBC Capital Markets acting as joint financial adviser to the consortium and lead structuring bank on the debt facilities. The corporate transaction secured formal regulatory clearance from Australia’s Foreign Investment Review Board (FIRB) prior to final close. Strategically, the consortium aims to scale AirTrunk’s platform across the Asia-Pacific hyperscale ecosystem, capitalizing on structural demand driven by public cloud adoption and artificial intelligence workloads. With over 800 MW of committed capacity and a pipeline exceeding 1 GW of secured development runway across Australia, Hong Kong, Japan, Malaysia, and Singapore, the sponsors will deploy institutional growth capital to accelerate high-voltage power procurement, expand campus connectivity, and secure land banks. The investment provides the acquiring consortium with defensive, inflation-hedged cash flows secured by long-dated contracts with investment-grade technology tenants.