Financial Sponsors: Private Capital’s $175B+ Datacenter Transformation

Private equity firms, infrastructure funds, and sovereign wealth funds have emerged as dominant forces in datacenter development, deploying over $175 billion in capital since 2020 through mega-acquisitions, consortium investments, and vertically integrated strategies. This transformation reflects a fundamental shift from traditional REIT ownership to alternative asset managers and sovereign wealth vehicles pursuing AI infrastructure as a multi-decade investment thesis.

Market Overview

Capital Deployment Scale

The datacenter sector has witnessed unprecedented private capital inflows driven by AI infrastructure demand, power scarcity value, and hyperscaler off-balance-sheet financing preferences:

• Total Investment Volume: $175B+ deployed 2020-2025
• Deal Size Evolution: Average transaction size increased from $3B (2020) to $15B+ (2025)
• Valuation Multiples: Enterprise value multiples expanded from 15-20x EBITDA (2020) to 30-53x (2025)
• Annual Deployment Rate: Accelerating from $25B (2020) to projected $60B+ (2025)

Role in Datacenter Ecosystem

Financial sponsors have transformed from passive infrastructure investors to active platform builders and vertical integrators:

1. Platform Acquisition&Scaling: Acquiring regional operators and scaling to 5+ GW portfolios
2. Consortium Investment: Pooling $100B+ capital across sovereign wealth, institutional investors, and tech companies
3. Vertical Integration: Investing across power generation, construction, cooling, and electrical infrastructure
4. Off-Balance-Sheet Solutions: Enabling hyperscalers to access compute capacity without direct capex burden
5. Geographic Expansion: Funding international growth beyond core US/European markets

Major Financial Sponsors Comparison

Detailed Sponsor Profiles

BlackRock / Global Infrastructure Partners (GIP)

Assets Under Management: BlackRock $13.5T total / GIP $170B infrastructure AUM

Datacenter Strategy: BlackRock acquired Global Infrastructure Partners for $12.5B in October 2024, integrating GIP’s infrastructure expertise with BlackRock’s institutional capital platform. The combined entity leads the AI Infrastructure Partnership (AIP) consortium mobilizing $100B for AI datacenter and power infrastructure.

Major Investments:

• Aligned Data Centers ($40B, 2025): AIP consortium’s first acquisition - 50+ campuses, 5 GW capacity across Americas
• CyrusOne ($15B, 2021): Joint acquisition with KKR of hyperscale operator with North America/Europe footprint
• AIP Consortium Leadership: Founded September 2024 with Microsoft, MGX, NVIDIA targeting $30B equity/$100B total deployment

Investment Approach:

• Consortium model combining infrastructure capital, sovereign wealth, hyperscaler demand visibility
• Off-balance-sheet financing enabling Microsoft/NVIDIA to access capacity without direct capex
• GIP provides operational infrastructure expertise; BlackRock provides institutional capital access
• Focus on AI-optimized infrastructure with secured power capacity

Key Metrics:

• 300+ infrastructure investments globally via GIP
• AIP targets 100+ datacenter campuses by 2030
• Aligned portfolio: 5 GW current, targeting 10+ GW by 2030

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Blackstone

Assets Under Management: $1.2 trillion

Datacenter Strategy: “Picks and shovels” vertical integration across entire AI infrastructure stack - from power generation to datacenters to electrical services. Blackstone emerged as largest private equity datacenter investor globally with $80B existing assets and $100B+ prospective pipeline.

Major Investments:

• AirTrunk ($16B, 2024): Largest datacenter M&A ever (until Aligned) - Asia-Pacific hyperscale platform, up to 1 GW capacity. Joint with Canada Pension Plan Investment Board
• QTS Realty Trust ($10B, 2021): Hybrid colocation/hyperscale operator - leased capacity grown 9x since acquisition
• Digital Realty Joint Ventures ($7B): Strategic partnerships for capacity expansion
• Invenergy ($4.1B invested): Largest independent US renewables developer - power infrastructure vertical integration
• Shermco ($1.6B, 2024): Electrical services for datacenter construction/operations

Investment Approach:

• Vertical integration: own power generation (Invenergy, PPL JV), electrical services (Shermco), datacenter operations (QTS, AirTrunk)
• Geographic diversification: North America (QTS), Asia-Pacific (AirTrunk), Europe (Lumina CloudInfra)
• Co-location of power generation with datacenters to bypass 7-10 year grid interconnection queues
• Supporting technologies: CoreWeave ($7.5B debt facility), DDN storage ($300M)

Key Metrics:

• $80B existing datacenter assets
• $100B+ prospective pipeline
• 28 operational facilities across 10 countries
• 3 GW total capacity

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DigitalBridge Group

Assets Under Management: $96-106 billion digital infrastructure AUM

Datacenter Strategy: Specialized digital infrastructure investor focused exclusively on 5 verticals: datacenters, cell towers, fiber, small cells, edge infrastructure. Operates 25+ portfolio companies with datacenter platforms as core holdings.

Major Investments:

• Switch ($11B, 2022): Tier IV datacenter operator with 4.5M sq ft across 9 campuses
• Vantage Data Centers: Global hyperscale platform - multiple financing rounds
• DataBank: Edge colocation and interconnection provider
• Scala Data Centers (Brazil): Latin America hyperscale leader
• Yondr: European hyperscale development platform

Investment Approach:

• Platform acquisition and organic growth funding
• Geographic specialization: Vantage (global), DataBank (US edge), Scala (Latin America), Yondr (Europe)
• Long-term hold strategy with strategic exits when platforms mature
• Investment management fees from $106B AUM base

Key Metrics:

• 25+ portfolio companies across digital infrastructure
• 4 GW datacenter capacity across portfolio
• Global presence: Americas, Europe, Asia-Pacific
• Focus on hyperscale and edge segments

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SoftBank Group

Market Cap: $95B / Vision Fund: $100B+

Datacenter Strategy: SoftBank serves as chairman/lead financial sponsor for Stargate Initiative - largest AI infrastructure project in history. Vertical integration through Arm Holdings (semiconductors), SB Energy (renewables), and Lordstown (AI server manufacturing).

Major Investments:

• Stargate Initiative ($500B commitment, 2025): 10 GW AI datacenter deployment by 2029 - Masayoshi Son chairman role
• Arm Holdings (90% ownership): CPU architecture for all Stargate AI infrastructure
• SB Energy: 900 MW Orion Solar Belt in Texas providing renewable power
• Lordstown Facility ($375M, 2025): AI server manufacturing supporting Stargate

Investment Approach:

• Governance control through Stargate chairman role (unique among financial sponsors)
• Vertical integration: Arm CPUs + NVIDIA GPUs + SB Energy power + Lordstown manufacturing
• Strategic partnerships: OpenAI (co-founder), Oracle (cloud platform), MGX (sovereign wealth co-investor)
• US-focused with national security alignment (White House announcement January 2025)

Key Metrics:

• $500B Stargate total commitment (2025-2029)
• 10 GW target capacity by 2029
• 6+ sites under development/construction
• First site operational July 2025 (Abilene, Texas)

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Macquarie Asset Management

Assets Under Management: $857 billion

Datacenter Strategy: Operational transformation investor - acquire platforms with regional presence, inject capital for scaling, exit at premium to sophisticated buyers. Executed largest datacenter exit in history with Aligned sale.

Major Investment:

• Aligned Data Centers (acquired April 2018, sold October 2025 for $40B):
  • Entry: 2 facilities, 85 MW capacity
  • Exit: 50+ campuses, 5+ GW capacity across Americas
  • Transformation: 7.5-year hold period
  • ODATA acquisition ($1.8B, 2022): Added Latin America platform
  • Return: Exit at $40B enterprise value - exceptional return multiple

Investment Approach:

• Acquire regional operators with growth potential
• Multi-billion capital injection for organic and M&A growth
• Operational improvements: technology platforms (Delta3, DeltaFlow), hyperscale customer development
• Exit to financial sponsors or strategic buyers at maturity (5-10 year holds)

Key Metrics:

• Aligned transformation: 85 MW to 5 GW (59x growth)
• $12B+ capital raise (January 2025) before exit
• Exit valuation: $40B enterprise value, $8M per MW
• Hold period: 7.5 years (April 2018 - October 2025)

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MGX (Abu Dhabi)

Target AUM: $100 billion

Datacenter Strategy: Newly established (2024) sovereign wealth vehicle focused exclusively on AI infrastructure. Serves as anchor investor in AI Infrastructure Partnership consortium alongside BlackRock/GIP. Unlike traditional diversified sovereign wealth funds, MGX maintains concentrated focus on AI ecosystem.

Major Investment:

• AI Infrastructure Partnership: Co-founder with BlackRock, Microsoft, NVIDIA
• Aligned Data Centers ($40B, 2025): First major acquisition via AIP consortium
• AIP Consortium: $30B initial equity targeting $100B total deployment

Investment Approach:

• Consortium model combining sovereign wealth patient capital with infrastructure expertise (BlackRock/GIP)
• Strategic partnerships: Microsoft/NVIDIA (demand visibility), Temasek/Kuwait (co-investment capital)
• Technology partnerships: GE Vernova, NextEra Energy (power infrastructure)
• Focus on US market with future international expansion leveraging UAE relationships

Key Metrics:

• Founded 2024 as Mubadala subsidiary
• $100B AUM target
• AIP consortium: 10-member structure
• Aligned represents $40B inaugural investment

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Temasek Holdings (Singapore)

Assets Under Management: $357 billion (S$484B)

Datacenter Strategy: Asia-Pacific datacenter dominance through STT GDC platform (170+ facilities) plus US expansion via AI Infrastructure Partnership consortium. Sovereign wealth fund with 50+ year investment track record pursuing digitization as core structural trend.

Major Investments:

• STT GDC: 170+ datacenters across 11 countries - largest Temasek datacenter platform
• AI Infrastructure Partnership: Anchor investor alongside MGX and Kuwait Investment Authority
• Aligned Data Centers ($40B, 2025): Via AIP consortium for Americas exposure

Investment Approach:

• Geographic balance: Singapore anchor (52% portfolio) + global expansion
• Structural trends: digitization, sustainable living, future consumption, longer lifespans
• T2030 strategy: 40% Singapore, 40% global direct investments, 20% partnerships/funds
• Generational investment horizon (no fund termination date)

Key Metrics:

• $357B total AUM
• 170+ datacenters via STT GDC (Asia-Pacific focus)
• 14% compound annual return since 1974
• Net zero by 2050 portfolio commitment

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Kuwait Investment Authority

Assets Under Management: $900 billion+

Datacenter Strategy: World’s oldest sovereign wealth fund (founded 1953) serving as anchor capital for large-scale infrastructure consortiums. Provides credibility, scale, and patient capital without requiring operational control.

Major Investment:

• AI Infrastructure Partnership: Anchor investor joining 2025
• Aligned Data Centers ($40B, 2025): Via AIP consortium participation

Investment Approach:

• Anchor LP in infrastructure funds and consortiums
• Co-investment alongside experienced managers (BlackRock/GIP)
• Long-term patient capital (multi-decade horizons)
• Diversification across geographies and asset classes

Key Metrics:

• $900B+ total AUM (world’s oldest SWF)
• Dual structure: General Reserve Fund + Future Generations Fund
• Infrastructure allocation: 5-10% of portfolio
• Typical hold period: Multi-decade

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Megadeals Analysis

Top 10 Largest Datacenter Transactions

Deal Structure Evolution

2020-2021: Traditional PE Buyouts

• Average deal size: $5-10B
• Structure: Single PE sponsor or 2-sponsor consortium
• Valuation: 15-20x EBITDA
• Focus: Operational improvement, organic growth

2022-2023: Scale Acquisition Phase

• Average deal size: $10-15B
• Structure: PE + sovereign wealth co-investment
• Valuation: 20-25x EBITDA
• Focus: Geographic expansion, portfolio consolidation

2024-2025: Mega-Consortium Era

• Average deal size: $15-40B
• Structure: Multi-party consortiums (5-10 members) combining financial sponsors, sovereign wealth, tech companies
• Valuation: 30-53x revenue (power scarcity premium)
• Focus: AI infrastructure, secured power capacity, hyperscaler off-balance-sheet solutions

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Investment Patterns

Deal Size Evolution (2020-2025)

Valuation Multiple Trends

Traditional Colocation (2020-2023):

• Enterprise Value / Revenue: 8-12x
• Enterprise Value / EBITDA: 15-20x
• Price per MW: $3-5M

AI-Optimized Infrastructure (2024-2025):

• Enterprise Value / Revenue: 30-53x
• Enterprise Value / EBITDA: 25-35x (where disclosed)
• Price per MW: $8-16M

Valuation Premium Drivers:

1. Secured Power Capacity: Multi-gigawatt utility commitments worth 50-100% premium
2. AI Infrastructure: Liquid cooling, 350+ kW rack densities command 40-60% premium
3. Hyperscale Concentration: 80%+ hyperscaler revenue reduces lease-up risk, justifies premium
4. Geographic Scarcity: Northern Virginia, Phoenix, Chicago power constraints drive premium
5. Sustainability: 100% renewable energy, green financing capabilities add 10-20% premium

Geographic Investment Focus (2024-2025)

Exit Timelines and Return Expectations

Average Hold Periods:

• Traditional PE: 4-6 years
• Infrastructure Funds: 7-10 years
• Sovereign Wealth: 10+ years (permanent capital)

Recent Exits:

• Macquarie-Aligned: 7.5 years (April 2018 - October 2025) - $40B exit
• Multiple Switch Portfolio Sites: Various holds to Equinix for $3.9B (2023)
• Digital Realty Portfolio Transactions: Ongoing optimization exits

Return Profiles:

• Target IRR: 15-25% for PE funds
• Target IRR: 12-18% for infrastructure funds
• Total return multiple: 2.5-4x on invested capital
• Sovereign wealth: Total return focus, no fixed timeline

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AI Infrastructure Partnership (AIP): Deep Dive

Consortium Structure

The AI Infrastructure Partnership represents a novel financing model combining infrastructure capital, sovereign wealth, hyperscaler demand, and technology suppliers in a single investment vehicle.

Founding Members (September 2024):

• BlackRock / Global Infrastructure Partners: Lead investor and infrastructure manager
• MGX (Abu Dhabi): Sovereign wealth anchor and vice chairman
• Microsoft Corporation: Founding member and strategic hyperscale partner
• NVIDIA Corporation: Founding member and GPU infrastructure partner (joined March 2025)

Expanded Members (2025):

• xAI (Elon Musk): AI compute partner (joined March 2025)
• Temasek Holdings (Singapore): Financial anchor investor
• Kuwait Investment Authority: Financial anchor investor (joined June 2025)

Supply Chain Partners:

• GE Vernova: Energy infrastructure solutions
• NextEra Energy: Renewable energy development
• Cisco Systems: Networking and technology infrastructure

Capital Structure

Total Investment Capacity: $100 billion

• Initial equity target: $30B
• Debt financing: $70B
• Structure: Off-balance-sheet for hyperscalers

Capital Allocation (Projected):

• Datacenter development: $60B (60%)
• Power infrastructure: $25B (25%)
• Supporting technologies: $15B (15%)

Off-Balance-Sheet Model Explained

Problem: Microsoft’s $80B+ annual capex burden for AI infrastructure

Solution: AIP consortium structure enables hyperscalers to access compute capacity without direct capital expenditure:

1. Consortium Investment: BlackRock/GIP + sovereign wealth funds + Microsoft invest in AIP
2. AIP Ownership: AIP consortium owns datacenter platforms (Aligned, future acquisitions)
3. Hyperscaler Lease: Microsoft leases capacity from AIP-owned datacenters under long-term contracts (10-15 years)
4. Cash Flow Cycle: Lease payments support datacenter debt financing + provide equity returns to consortium members
5. Balance Sheet Benefit: Microsoft avoids $80B direct capex while securing AI compute capacity

Strategic Advantages:

• For Hyperscalers: Reduced capex, maintained capacity access, off-balance-sheet financing
• For Financial Sponsors: Demand visibility, long-term contracted cash flows, lower development risk
• For Sovereign Wealth: Strategic AI infrastructure ownership, alignment with national priorities
• For Suppliers: Volume commitments, long-term partnerships, technology integration

Governance Structure

Leadership:

• Chairman: Adebayo Ogunlesi (BlackRock Global Infrastructure Partners CEO)
• Vice Chairman: Ahmed Yahia Al Idrissi (MGX CEO)
• Infrastructure Manager: BlackRock / Global Infrastructure Partners
• Strategic Partners: Microsoft, NVIDIA, xAI (demand visibility and technology alignment)

Decision-Making:

• Infrastructure investment decisions: BlackRock/GIP lead with consortium approval
• Capital deployment: Coordinated across members based on investment mandates
• Strategic direction: Consortium board including all anchor investors

Future Acquisition Pipeline

Announced: Aligned Data Centers ($40B, October 2025)

Potential Targets (Speculative based on AIP strategy):

1. International Platforms: Asia-Pacific operators (compete with AirTrunk), European developers
2. Power Infrastructure: Renewable energy developers, utilities, nuclear SMR companies
3. Vertical Integration: Construction firms, cooling technology companies, electrical service providers
4. Specialized Platforms: Edge computing networks, AI-optimized facilities, government/defense datacenters

Target Profile:

• Enterprise value: $5-20B per transaction
• Capacity: 500+ MW with multi-GW development pipeline
• Customer base: Hyperscale concentration (70%+ revenue)
• Power security: Secured utility capacity or brownfield site advantages
• Technology: AI-optimized infrastructure (liquid cooling, high-density racks)
• Geography: US primary focus with selective international opportunities

Deployment Timeline: $30B equity deployment target over 3-5 years (2024-2029)

• Year 1 (2024-2025): $10B (Aligned down payment)
• Years 2-3 (2025-2027): $15B (2-3 additional acquisitions)
• Years 4-5 (2027-2029): $5B (platform optimization, organic growth)

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Returns and Exit Strategies

Return Expectations by Investor Type

Private Equity Firms (Blackstone, KKR, DigitalBridge):

• Target IRR: 20-25% net to LPs
• Target multiple: 2.5-3.5x invested capital
• Hold period: 4-6 years
• Exit preference: Strategic sale to larger financial sponsor, consortium, or REIT

Infrastructure Funds (BlackRock/GIP, Macquarie):

• Target IRR: 12-18% net to LPs
• Target multiple: 1.8-2.5x invested capital
• Hold period: 7-10 years
• Exit preference: Strategic sale, continuation fund, IPO

Sovereign Wealth Funds (MGX, Temasek, Kuwait):

• Target IRR: 10-15% (total return focus)
• Target multiple: Long-term appreciation, no fixed target
• Hold period: 10+ years to permanent
• Exit preference: Selective exits for portfolio rebalancing, generally long-term hold

Historical Exit Examples

Successful Exits:

1. Macquarie-Aligned ($40B, October 2025):

   • Hold: 7.5 years (April 2018 - October 2025)
   • Entry: 85 MW, 2 facilities
   • Exit: 5 GW, 50+ campuses
   • Multiple: Exceptional (entry valuation undisclosed)
   • Buyer: AIP consortium (BlackRock/GIP, MGX, consortium)

2. Multiple Switch Site Sales to Equinix ($3.9B, 2023):

   • Portfolio optimization exit
   • Buyer: Equinix (strategic REIT)
   • Seller: Various financial sponsors
   • Structure: Site-by-site strategic sale

3. Digital Realty Joint Venture Exits:

   • Various partnerships restructured over time
   • Structure: JV unwinds, strategic acquisitions
   • Returns: Undisclosed but aligned with infrastructure fund targets

Ongoing Holds (No Exit Yet):

• Blackstone-QTS: Acquired 2021, operational scaling phase
• Blackstone-AirTrunk: Acquired 2024, early in hold period
• KKR/GIP-CyrusOne: Acquired 2021, mid-hold operational improvements
• DigitalBridge portfolio: Switch, Vantage, DataBank, Scala, Yondr - various stages

Exit Strategy Trends

2020-2023: Traditional Exit Paths

• Strategic sales to REITs (Equinix, Digital Realty)
• Secondary buyouts (PE to larger PE)
• IPOs (rare - market conditions dependent)

2024-2025: Emerging Exit Paths

• Consortium Sales: Selling to multi-party consortiums (AIP model) at premium valuations
• Sovereign Wealth Buyers: Selling to sovereign wealth funds seeking direct infrastructure exposure
• Continuation Funds: Extending hold periods through continuation vehicles (secondary LP market)
• Strategic Sales to Hyperscalers: Potential future trend - Microsoft/Google/AWS acquiring platforms directly

Exit Challenges:

• Valuation Expectations: $40B+ transaction sizes limit buyer universe
• Power Constraints: Platforms without secured power capacity face valuation discounts
• Operational Complexity: International portfolios (LATAM, Asia-Pacific) require sophisticated buyers
• Market Cyclicality: Exit timing sensitive to interest rates, tech spending cycles, AI investment sentiment

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Strategic Implications

Industry Consolidation Drivers

1. Capital Intensity: $8M per MW pricing requires multi-billion dollar equity checks
2. Power Scarcity: Secured utility capacity provides competitive moat and consolidation advantage
3. Hyperscaler Preferences: Microsoft, Google, AWS prefer dealing with 3-5 large operators vs. 50+ regional players
4. Technology Requirements: AI infrastructure (liquid cooling, 350+ kW racks) requires R&D investment scale
5. Consortium Advantages: $100B capital pools enable 10+ GW platforms unachievable for smaller operators

Competitive Implications

Winners:

• Large financial sponsors with $10B+ transaction capability (Blackstone, BlackRock, DigitalBridge)
• Operators with secured multi-GW power capacity (Aligned, QTS, AirTrunk)
• Platforms with hyperscale customer concentration and long-term contracts
• Sovereign wealth funds providing patient capital without forced exit timelines

Losers:

• Regional operators lacking scale and power capacity
• Colocation-focused players without hyperscale pivot
• Operators in power-constrained markets without brownfield strategies
• Financial sponsors lacking infrastructure expertise or consortium access

Future Outlook (2025-2030)

Projected Trends:

1. Continued Consolidation: 50+ operators consolidating to 10-15 large global platforms
2. Valuation Normalization: As power constraints ease, multiples may compress from 50x+ toward 25-30x
3. Geographic Expansion: US-centric investments expanding to LATAM, Asia-Pacific, Middle East
4. Vertical Integration: More financial sponsors acquiring power generation, construction, electrical services
5. Consortium Model Proliferation: AIP model replicated by other financial sponsor groups
6. Exit Market Development: More strategic buyers emerging (hyperscalers, sovereign wealth direct, continuation funds)

Risk Factors:

• Hyperscaler Self-Build: If Microsoft/AWS/Google revert to direct ownership, third-party demand erodes
• AI Demand Cyclicality: Recession or AI investment slowdown could reduce datacenter absorption
• Power Grid Constraints: Inability to secure utility capacity could delay development and reduce returns
• Regulatory Headwinds: Datacenter moratoriums, carbon regulations, foreign investment restrictions
• Technology Disruption: Distributed computing, edge architectures, quantum computing reducing hyperscale centralization

Investment Opportunities:

• Power Infrastructure: Renewable energy, nuclear SMRs, utilities serving datacenter loads
• Construction&Services: Electrical contractors, cooling technology, modular construction
• Secondary Markets: GP-led secondaries, LP portfolio sales in datacenter-focused funds
• International Platforms: Asia-Pacific, LATAM, Middle East datacenter operators
• Distressed Opportunities: Operators in power-constrained markets or with over-leveraged capital structures

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Conclusion

Financial sponsors have fundamentally transformed the datacenter industry through $175B+ in capital deployment, mega-deal consolidation, and consortium-based investment models. The emergence of the AI Infrastructure Partnership represents a watershed moment - combining infrastructure capital, sovereign wealth, hyperscaler demand, and technology suppliers in a novel off-balance-sheet financing structure.

Key takeaways:

1. Scale Requirements: $40B+ transactions and $8M per MW pricing require institutional capital at unprecedented scale
2. Power as Currency: Secured utility capacity provides competitive moat worth 50-100% valuation premiums
3. Consortium Model: Multi-party structures combining diverse capital sources and strategic capabilities emerging as dominant model
4. Patient Capital Advantage: Sovereign wealth funds’ permanent capital structure enables long-term development impossible for traditional PE
5. Exit Evolution: $40B+ platform sales to consortiums replacing traditional PE-to-PE secondaries

The next phase (2025-2030) will likely see continued consolidation toward 10-15 global platforms, AIP model replication, vertical integration into power infrastructure, and geographic expansion beyond core US/European markets. Financial sponsors with $10B+ transaction capability, infrastructure expertise, consortium access, and power strategy will dominate this transformation.

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Data Sources

This analysis draws on comprehensive dossiers and transaction data:

Financial Sponsor Dossiers:

• /support/datacenters/entities/financial/blackrock.json - BlackRock / GIP
• /support/datacenters/entities/financial/blackstone.json - Blackstone
• /support/datacenters/entities/financial/digitalbridge.json - DigitalBridge
• /support/datacenters/entities/financial/gip.json - Global Infrastructure Partners
• /support/datacenters/entities/financial/macquarie.json - Macquarie Asset Management
• /support/datacenters/entities/financial/softbank.json - SoftBank Group
• /support/datacenters/entities/financial/mgx.json - MGX (Abu Dhabi)
• /support/datacenters/entities/financial/temasek.json - Temasek Holdings
• /support/datacenters/entities/financial/kuwait_investment_authority.json - Kuwait Investment Authority

Transaction Data:

• /support/datacenters/enhanced/deals/aip_aligned_acquisition_2025.json - $40B Aligned acquisition
• Company financial dossiers with acquisition history sections

Project Data:

• /support/datacenters/analysis/all_projects.json - Sponsor involvement across datacenter projects

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Last Updated: October 16, 2025 Total Tracked Investment: $175B+ (2020-2025) Data Sources: Financial sponsor dossiers, transaction databases, public filings