Digital infrastructure deal boom revives: BlackRock (BLK.US) GiP buys Aligned data center for nearly $40 billion

Zhitong Finance App learned that, according to people familiar with the matter, Global Infrastructure Partnership (GIP) is in in-depth negotiations to acquire Aligned Data Centers supported by Macquarie Group. This is probably one of the largest deals this year.

A person familiar with the matter said the deal could value Aligned at around $40 billion.

One of the sources revealed that MGX, an AI investment company set up by the sovereign wealth fund Mubadala Investments, also participated in the negotiations and will invest independently as part of the deal. Mubadala has previously made a separate investment in Aligned.

People familiar with the matter said that GIP, which has now been merged into BlackRock (BLK.US), has yet to reach a final agreement, some details may change, and the negotiations may still end in vain.

As the world's reliance on AI deepens, digital infrastructure has become a popular target for global investors seeking stable returns and growth. Despite concerns that additional capacity may eventually exceed demand, it is still one of the most active asset classes for M&A transactions.

According to data compiled by Bloomberg, if closed at a valuation of 40 billion US dollars, GIP's acquisition of Allied will rank among the top five global mergers and acquisitions this year.

GIP already co-owns CyrusOne, a Dallas-based data center company with KKR. The two companies privatized CyrusOne in 2021, when the company was valued at around $15 billion.

According to its official website, Aligned, headquartered in Plano, Texas, has operations across the US and South America, and currently manages 50 data center parks and 78 facilities for future planning. In January of this year, Aligned received more than $12 billion in equity and debt financing commitments from investors, including funds owned by Macquarie Asset Management.

Last month, Aligned was one of the companies participating in a meeting of Trump administration officials aimed at accelerating the development of AI and the data center infrastructure it relies on.

AI technology has spawned a surge in data center demand. In the US, as money pours into the industry, the White House has proposed streamlining the environmental assessment process for new facilities.

Recent related deals include Meta Platforms raising $29 billion in financing for a large data center in Louisiana, and Oracle's issuance of $18 billion in bonds to build infrastructure for OpenAI.

MGX has been seeking up to $25 billion in financing for its AI infrastructure plans. According to the fund's website, Mubadala also maintains a strategic partnership with BlackRock.