Blackstone agreed to acquire a 49% stake in data center developer Rowan Digital Infrastructure. The transaction values Rowan at approximately $3.8 billion, excluding debt. Blackstone will secure strong control rights through the investment.
Previous reports in March indicated Blackstone considered a full acquisition worth over $10 billion including debt. Rowan currently develops data center campuses in Maryland, Oregon, and Texas.
The investment targets infrastructure demand driven by the growth of artificial intelligence. This deal expands a portfolio that includes previous purchases of QTS Data Centers and AirTrunk.