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Blackstone prepares multibillion-dollar public vehicle for data center acquisitions
Friday, February 27, 2026 at 10:46 PM
Blackstone is planning to launch a new publicly traded investment vehicle focused on acquiring leased data centers. The initiative aims to raise tens of billions of dollars, initially seeded by sovereign wealth funds before opening to retail investors. This move positions Blackstone to compete directly with major data center REITs like Digital Realty and Equinix, amid a broader industry trend of increasing private credit and capital vehicle formation for AI and digital infrastructure.
Context
Blackstone is launching a multibillion-dollar publicly traded vehicle to acquire leased data centers, aiming to capitalize on the massive infrastructure demands of the AI boom. Building on its $10 billion success with QTS Realty Trust, the firm intends to scale the new entity to tens of billions in assets. This vehicle will initially be seeded by sovereign wealth funds before opening to retail investors, positioning it to compete directly with major established REITs like Equinix and Digital Realty.
The move follows a broader industry trend, seen with Brookfield and its Radiant platform, to create specialized vehicles for digital infrastructure. By leveraging investment-grade and private credit, Blackstone seeks to secure the permanent capital required for high-density power and cooling needs. While the firm maintains it will not use the vehicle to exit existing fund positions, the launch signals a strategic push to dominate the capital-intensive global data center landscape as AI scaling intensifies.
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