Stack Asia data centre acquisition is heating up as the Asia-Pacific region braces for its most significant infrastructure deal ever. Blue Owl Capital’s Stack Infrastructure is preparing to offload its entire Asia-Pacific data centre portfolio spanning Australia, Japan, and Malaysia in a transaction sources say could surpass $30 billion. The Artificial Intelligence Infrastructure Partnership (AIP), backed by BlackRock’s Global Infrastructure Partners (GIP), leads the field of eager suitors.
Furthermore, KKR & Co., Brookfield Asset Management, IFM Investors, and DigitalBridge Group now being acquired by SoftBank are all actively courting the portfolio. Bloomberg first reported the development on June 24, 2026, citing people familiar with the matter. Moreover, Stack has already gauged preliminary interest and plans to formally launch a sale process as early as July 2026, making this one of the most closely watched construction and infrastructure deals in recent APAC history.
Stack Asia Data Centre Acquisition: A Portfolio worth Fighting For
Stack Infrastructure’s Asia-Pacific footprint is considerable. The portfolio includes one campus in Malaysia at 216 megawatts (MW), two campuses in Japan at 114 MW, and three campuses in Australia, anchoring an impressive 792 MW of capacity. Additionally, Melbourne leads with 432 MW alone. Consequently, the combined APAC portfolio totals more than 1,100 MW of operational and planned capacity.
Stack’s first Japanese facility a 36 MW campus in Tokyo’s Inzai District was already completed. Johor Bahru in Malaysia, meanwhile, sits strategically across the border from Singapore, where land and power constraints continue to push new digital infrastructure development into neighboring markets. Thus, the portfolio offers bidders immediate scale across three of Asia-Pacific’s most strategic digital infrastructure markets. A $30 billion-plus deal would, therefore, establish an entirely new benchmark for data centre acquisitions in the region surpassing even the landmark $16.6 billion that Blackstone paid for AirTrunk in 2024.
Stack Asia Data Centre Acquisition Fueled by AI Demand
Three converging forces drive investor appetite for this deal. First, AI workload demand across Asia-Pacific continues to accelerate sharply. Every enterprise AI deployment requires physical compute housed in data centres. Second, cloud migration across Southeast Asia remains mid-cycle. Markets like Malaysia, Indonesia, Vietnam, and the Philippines still actively move significant workloads off legacy infrastructure.
Third, data sovereignty regulations across the region force enterprises and cloud providers to build local capacity. These tailwinds collectively make Stack’s APAC footprint exceptionally valuable. Indeed, AIP has already demonstrated its appetite for large-scale data centre acquisitions. In October 2025, AIP alongside MGX and BlackRock’s GIP acquired Aligned Data Centers in a record $40 billion transaction, the largest data centre deal in history.
AIP itself was founded by BlackRock, GIP, MGX, Microsoft, and NVIDIA to expand AI infrastructure globally. Its anchor financial investors include Singapore’s Temasek and the Kuwait Investment Authority. Therefore, a Stack APAC acquisition would mark AIP’s second major data centre investment within a year, cementing its dominance in the sector. Notably, the Asia-Pacific region’s data centre capacity is projected to more than double by 2030. The region is also set to account for 40% of global total capacity, supported by approximately $800 billion in investments.
The growing competition for STACK Infrastructure’s Asia-Pacific assets reflects a broader surge in capital targeting AI infrastructure. One of the most significant developments is the emergence of the MGX-led AI Infrastructure Fund, which has mobilized approximately $50 billion to support large-scale investments in data centers, computing capacity, and related energy infrastructure. As investors seek exposure to the rapidly expanding AI ecosystem, both Greenfield construction projects and major acquisition opportunities are becoming increasingly attractive.
Also read: $25bn Microsoft Australia Data Centre Projects Advances to expand national AI infrastructure
Blue Owl Capital Eyes Historic Exit as Stack Asia Data Centre Sale Launches
Blue Owl Capital, which owns Stack through its acquisition of IPI Partners in 2024, now explores a decisive exit. The Denver-based firm manages approximately $315 billion in assets under management as of Q1 2026. A successful sale at $30 billion-plus would crystallize substantial gains on one of its flagship infrastructure assets. Meanwhile, the broader Asia-Pacific deal environment validates the timing.
Earlier in 2026, KKR and Singtel completed a $5.2 billion acquisition of STT GDC, one of Asia’s largest data centre operators. That transaction set a strong precedent for mega-deal appetite in the region. Additionally, Bain Capital has been seeking a buyer for at least 40% of Bridge Data Centres at a $5 billion valuation, while AirTrunk has engaged banks for a potential Singapore REIT listing.
Together, these transactions signal that global capital has arrived in force across Asia-Pacific data centre markets. Stack Infrastructure itself has secured over $6 billion in green financing during 2025 to fund developments across North America. However, the company divested its European colocation business to Apollo-managed infrastructure funds in April 2025. That strategic refocus on the Americas and Asia-Pacific makes the APAC sale a defining moment for the company’s future direction.
Also read: $2.8 Billion Sydney Data Center Project Advances as AirTrunk Seeks New Construction Financing
Also read: $10bn Bundey Data Centre Project Drives Australia’s First 100% Net Renewable Grid Build
Project Fact Sheet
Project name: Stack Infrastructure Asia-Pacific Data Centre Portfolio Sale
Type: Data centre infrastructure acquisition and ongoing construction/development
Estimated deal value: Over $30 billion
Asset owner: Blue Owl Capital (through IPI Partners acquisition in 2024)
Portfolio Company: Stack Infrastructure Inc., headquartered in Denver, Colorado, USA
Markets covered: Australia (Melbourne, Sydney), Japan (Tokyo/Inzai District), Malaysia (Johor Bahru)
Total portfolio capacity: Over 1,100 MW operational and planned across APAC
Australia capacity: 792 MW across three campuses; Melbourne leads at 432 MW
Japan capacity: 114 MW across two campuses, including a completed 36 MW Tokyo facility
Malaysia capacity: 216 MW, Johor Bahru campus adjacent to Singapore
Sale process status: Preliminary interest gauging complete; formal process expected to launch as early as July 2026
Previous benchmark deal: Blackstone acquired AirTrunk for $16.6 billion in 2024 — a record that this deal would surpass
Green financing secured: Stack raised over $6 billion USD in green financing during 2025
European divestment: Stack sold its European colocation business to Apollo-managed funds in April 2025 (seven data centres across five markets)
APAC growth context: Asia-Pacific data centre capacity projected to more than double by 2030, accounting for 40% of global total
Regulatory tailwind: Tightening data sovereignty laws across APAC markets drive localized data center demand
Project Team
Seller: Blue Owl Capital, Denver, Colorado, USA
Portfolio company management: Stack Infrastructure Inc.
Lead bidder: Artificial Intelligence Infrastructure Partnership (AIP)
BlackRock Global Infrastructure Partners (GIP): Larry Fink, Chairman and CEO of BlackRock and Chairman of AIP; GIP is a wholly owned subsidiary of BlackRock
AIP anchor financial investors: Temasek (Singapore sovereign wealth fund) and Kuwait Investment Authority
Competing bidders:
- KKR & Co.: global investment firm; Brookfield Asset Management, Canadian alternative asset manager
- IFM Investors: Australian institutional infrastructure fund
- DigitalBridge Group Inc.: specialist digital infrastructure asset manager currently being acquired by SoftBank Group Corp.
Leave a Reply