Aligned Data Centers acquired by ARTIFICIAL INTELLIGENCE INFRASTRUCTURE PARTNERSHIP AIIP / MGX / Global Infrastructure Partners
Context
On 15 October 2025, an institutional consortium comprising the Artificial Intelligence Infrastructure Partnership (GAIP), Abu Dhabi-backed technology investor MGX, and BlackRock’s Global Infrastructure Partners (GIP) entered into a definitive agreement to acquire 100% of Aligned Data Centers in a take-private transaction, which formally closed on 23 July 2026. The transaction marks the full exit of historical institutional owners, primarily infrastructure funds managed by Macquarie Asset Management alongside its affiliated co-investors. To support the platform’s high-density development pipeline, the consortium committed an additional $5 billion in follow-on growth equity alongside the buyout consideration. The acquisition represents the inaugural platform deployment for GAIP, serving as the cornerstone asset in its mandate to deploy an initial $30 billion in direct equity capital, with the capacity to unlock up to $100 billion in total digital infrastructure investment when levered with future debt facilities. Strategically, the transaction capitalizes on the structural convergence of long-term infrastructure capital and exponential demand for AI-ready, hyperscale compute capacity. The investment thesis combines Aligned’s proprietary cooling technologies, power interconnection rights, and Tier-1 land bank with the scale of BlackRock and GIP’s global infrastructure platforms and MGX’s sector-dedicated AI focus. Following completion, Aligned Data Centers continues to operate as an independent platform under its existing executive leadership, supported by balance-sheet flexibility to accelerate gigawatt-scale development across the Americas.
Aligned Data Centers, which reported an EBITDA margin of in 2025, is valued in this transaction at an EV/EBITDA multiple of , a level than the average currently observed in the TMT (Tech, Media, Telecom) sector (15.1x).
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Target
Headquartered in Dallas, Texas, Aligned Data Centers is a leading technology infrastructure company focused on developing and operating sustainable digital infrastructure platforms across the Americas. Led by CEO Andrew Schaap, the company's footprint encompasses approximately 50 campuses representing more than 5 GW of operational and planned capacity across Tier-1 digital gateway and core interconnect markets, including Northern Virginia, Chicago, Ohio, Phoenix, Salt Lake City, São Paulo, Querétaro, and Santiago. To support high-density compute and AI-driven workloads, Aligned deploys proprietary, patented, and patent-pending cooling technologies spanning advanced air, liquid-to-chip, and hybrid thermal management systems. The platform delivers build-to-scale, gigawatt-scale, and multi-tenant colocation solutions engineered for global hyperscalers, emerging neo-cloud providers, and tier-one enterprises. Backed by strategic land banking and proactive utility interconnection programs, Aligned secures speed-to-power and high-efficiency capacity in power-constrained metropolitan transmission corridors.
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REFERENCES
Valuation range: EV 3b - 100b USD
Revenue range: 750M - 1.3b USD
EBITDA range: 450M - 900M USD
Note: This page provides detailed data on a private equity M&A transaction. Detailed and exact financial metrics for the acquisition of Aligned Data Centers by ARTIFICIAL INTELLIGENCE INFRASTRUCTURE PARTNERSHIP AIIP / MGX / Global Infrastructure Partners are reserved for mynth community members. Register for free to unlock full data.
Authors: This transaction was contributed by a verified mynth contributor and cross-checked against available transaction documents and official company communications.
Press release: view release
Target: aligned data centers
Acquirer: artificial intelligence infrastructure partnership aiip / global infrastructure partners / mgx