Blackstone Funds and Canada Pension Plan Investment Board (CPP Investments) have bought Asia Pacific data center platform AirTrunk from Macquarie Asset Management (MAM) and the Public Sector Pension Investment Board (PSP Investments) in an AU$ 24 billion (US$ 16 billion) deal.

MAM and PSP Investments have sold their 88% stake in AirTrunk, which they acquired in 2020. Since the acquisition, AirTrunk has grown from operating five data centers in Australia, Singapore, and Hong Kong to becoming a leading hyperscale data center specialist with 11 sites, including in Japan and Malaysia. The company’s valuation, which exceeds US$ 16 billion, includes the costs of future construction projects.