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BLACKROCK, IFM IN EXCLUSIVE TALKS FOR $25B DATA CENTER DEAL

INDUSTRY DESK2 MIN READ
THU, SEP 24, 2026

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A consortium led by BlackRock and IFM Investors has entered exclusive negotiations to acquire Stack Infrastructure's Asia Pacific data center portfolio. The potential transaction values the assets at approximately $25 billion.

BlackRock Inc. and IFM Investors Pty Ltd have moved into exclusive talks to purchase Stack Infrastructure Inc.'s Asia Pacific data center operations, according to sources familiar with the matter. The $25 billion deal underscores growing investor appetite for data center assets as artificial intelligence and cloud computing demand accelerate across the region. Stack Infrastructure operates a significant portfolio of facilities across major Asia Pacific markets, serving enterprises and cloud providers. BlackRock, the world's largest asset manager with over $10 trillion in assets under management, has been expanding its infrastructure investments. IFM Investors, an Australian institutional investor managing over $200 billion in assets, focuses heavily on infrastructure and real assets. The exclusive negotiation period represents an advanced stage in the deal process, though no agreement has been finalized. Transaction terms, financing structure, and regulatory approvals remain outstanding. Data center consolidation has intensified as major technology companies, financial institutions, and infrastructure funds compete for strategically located facilities. Asia Pacific represents a critical market given the region's economic growth, tech adoption rates, and data sovereignty requirements. Stack Infrastructure was previously backed by private equity investors and has positioned itself as a leading regional data center operator. A successful sale would represent a substantial exit for existing shareholders. The transaction, if completed, would rank among the largest infrastructure deals in recent years and reflects the premium valuations commanding data center assets globally. Rising power consumption from AI workloads and increased demand for edge computing capabilities have driven investor interest. Neither BlackRock nor IFM has publicly commented on the negotiations. Stack Infrastructure declined to comment when contacted.

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Bloomberg Tech

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