AirTrunk, the data center operator backed by Blackstone and CPPIB, is reportedly close to selling a Johor, Malaysia data center asset to investors including Malaysia’s national pension fund KWAP for approximately $1 billion. The sale comes as a broader selloff in AI-linked equities and rising interest rates have delayed fundraising and transactions across the data center sector. AirTrunk has been building aggressively in Johor, with several campuses totaling over 700 MW of planned capacity. The company closed a $2.3 billion green loan for its JHB2 campus in July 2026, including a $175 million participation from the International Finance Corporation.
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