AIP, backed by BlackRock and Temasek, said to be interested in Stack data centres

[HONG KONG] The Artificial Intelligence Infrastructure Partnership (AIP) and Brookfield Asset Management are among possible bidders for Stack Infrastructure’s data centres in the Asia-Pacific region, according to sources familiar with the matter.

Other potential suitors include IFM Investors, KKR and DigitalBridge, which is being acquired by SoftBank, the sources said, asking not to be identified because the information is private.

Stack has been gauging interest and is preparing to start a sale process as soon as July, they said.

The number of prospective buyers reflects how data centres and related infrastructure have come to the forefront of dealmaking in Asia, with global funds seeking exposure to a sector and region riding high on AI’s rapid growth.

Considerations are preliminary and no final decision has been made, the sources said. Other bidders could also emerge, they added.

Representatives for GIP, Brookfield, DigitalBridge and KKR declined to comment. Stack and IFM did not respond to requests for comment.

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AIP’s founders include BlackRock’s Global Infrastructure Partners, Microsoft and Mubadala Investment’s MGX. The group aims to invest in and expand AI infrastructure, and its first deal was a US$40 billion acquisition of Aligned Data Centers announced in October. Nvidia, the Kuwait Investment Authority and Temasek are also investors in AIP.

Stack’s Apac data centres are in Tokyo, Osaka, Melbourne, Sydney and Johor Bahru in Malaysia.

Sources familiar with the situation said previously that Stack, owned by Blue Owl Capital since last year, has been considering selling the assets and might fetch more than US$30 billion for them. BLOOMBERG