CPP Investments and Blackstone team up to acquire Asia Pacific data centre operator AirTrunk
Canada Pension Plan Investment Board (CPP Investments) has entered into a definitive agreement with Blackstone to acquire AirTrunk, a leading data centre operator in the Asia Pacific region.
The acquisition is from Macquarie Asset Management and other investors, including PSP Investments. CPP Investments will acquire a 12 percent stake in AirTrunk, valuing the business at over AUD$24bn.
Max Biagosch, senior managing director and global head of Real Assets and head of Europe for CPP Investments, said, “CPP Investments has invested in the Asia Pacific data centre sector for several years, and we have witnessed significant growth in this space, fuelled by a strong demand for digital infrastructure and, more recently, the increasing adoption of artificial intelligence.”
“We have built up strong sector expertise and are excited about the opportunities presented by data centres globally.”
CPP Investments already holds joint ventures and investments in data centres across Asia Pacific and the US.
Biagosch further expressed enthusiasm for the partnership with Blackstone and AirTrunk’s management, noting, “This investment represents another milestone in our broader data centre strategy, further enhancing our footprint in the region to the benefit of CPP contributors and beneficiaries.”
The transaction awaits approval from the Australian Foreign Investment Review Board.
AirTrunk, founded in 2015 and based in Australia, develops, and operates data centres across several Asia Pacific countries, including Australia, Hong Kong, Japan, Malaysia, and Singapore.
