BlackRock and IFM Investors are reportedly in exclusive talks to acquire a data center portfolio valued at $25 billion. In July 2026, BlackRock already acquired Aligned Data Centers for $40 billion, gaining control of over 51 campuses and 6.4 gigawatts of capacity, with an additional $5 billion commitment for future growth. The firm also formed an 80/20 joint venture with Meta to develop a $14 billion data center in El Paso, Texas, expected to deliver 1 gigawatt of capacity by around 2028. IFM, which manages approximately A$230 billion in assets on behalf of pension funds, acquired Swiss data center operator Green Group in July 2025. Large technology companies like Meta are increasingly seeking off-balance-sheet solutions for their massive AI capital expenditure programs.
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