By Rajwa Quasim
A consortium backed by world’s largest global asset management company BlackRock and IFM investors is in exclusive talks to acquire Stack Infrastructure’s data center operations in the Asia-Pacific region, Bloomberg reported on Thursday.
The deal is expected to be worth around $25 billion. The investor group includes the BlackRock backed Artificial Infrastructure Partnership (AIP) and Australian infrastructure investor IFM. According to the people familiar with the matter, the group is preparing to conduct due diligence on Stack’s assets and hopes to reach an agreement with Stack owned Blue Owl Capital.
However, the deal is yet to be finalized as discussions are still underway. Reuters said it could not independently verify Bloomber’s report yet.
READ: Crusoe raises $3.9B at $30.9B valuation to expand AI data centers (September 18, 2026)
Stack Infrastructure operates multiple data centers across Asia-Pacific markets, including Tokyo and Osaka in Japan, and Sydney and Melbourne in Australia. The deal comes as there is a growing value of data centers in Asia due to increasing demand in computing infrastructure. Several major tech giants have been exploring and expanding investment in data centers so that it is capable enough to handle large amounts of data and computing workloads.
Blue Owl has been exploring options for selling Stack Asia’s operations at a valuation of more than $30 billion. By June, IFM and AIP emerged among the potential bidders for the portfolio. It is unclear what exactly would be valued worth, with analysts suggesting between $20 billion to $25 billion.
READ: Data centers face increasing scrutiny and backlash from political leaders (August 24, 2026)
For Blue Owl, this would be an opportunity to monetize part of its investment in Stack and buyers would gain access to an established data center portfolio across major Asian and Pacific markets.
AIP, an investment firm that focuses on infrastructure needed to support artificial intelligence, was launched in 2024. The aim was to invest more than #30 billion in Ai related infrastructure and growing data centers.
Earlier, Meta Platforms and BlackRock, the world’s largest asset manager, partnered to develop and operate a massive data center campus in El Paso, Texas. The deal is valued at roughly $14 billion.
In another development, Data center developer Crusoe raised $3.9B at $30.9B valuation to expand AI data centers in U. S.
In August, Skanska, a Swedish construction company, signed a contract worth $1.19 billion to build four new data centers in the southeastern United States. And so do companies like Nvidia and Meta.