Blue Owl Prepares $30 B Sale of Stack’s Asia-Pacific Data Centre Portfolio

Blue Owl Capital, owner of Stack Infrastructure Inc., plans to sell its Asia-Pacific data-centre portfolio for roughly $30 billion. Bloomberg reported on 24 June 2026 that a formal process could start in July 2026. The assets cover Australia, Japan and Malaysia and have drawn interest from the Artificial Intelligence Infrastructure Partnership (AIP), KKR & Co., Brookfield Asset Management, IFM Investors, DigitalBridge (SoftBank) and a Macquarie-led consortium.

$30bn STACK Asia Data Centre Build-Out Draws BlackRock-Backed AIP, KKR in APAC Acquisition Race

Investor interest is fueled by three trends: accelerating AI-workload demand; mid-cycle cloud migration in Southeast Asian markets (Malaysia, Indonesia, Vietnam, Philippines); and stricter data-sovereignty rules that require local capacity. Analysts expect Asia-Pacific data-centre capacity to more than double by 2030, accounting for about 40 % of global capacity and drawing $800 billion of investment.

$30bn STACK Asia Data Centre Build-Out Draws BlackRock-Backed AIP, KKR in APAC Acquisition Race

The Artificial Intelligence Infrastructure Partnership (AIP), founded by BlackRock, GIP, MGX, Microsoft and NVIDIA and backed by Temasek and the Kuwait Investment Authority, led a $40 billion Aligned Data Centres deal in October 2025. GIP, chaired by Larry Fink, also backs AIP. Macquarie is reported to partner with GIP on a bid, while IFM Investors, KKR & Co., Brookfield and DigitalBridge (SoftBank) are also contenders.

$30bn STACK Asia Data Centre Build-Out Draws BlackRock-Backed AIP, KKR in APAC Acquisition RaceAIP and Brookfield are both bidding for Stack Infrastructure's Asia operations and the $30 billion price tag explains exactly what AI has done to data center valuations

The portfolio includes three Australian campuses (792 MW total, with Melbourne at 432 MW and Sydney 360 MW on 7.7 ha), two Japanese sites (114 MW, including a 36 MW Inzai facility), and a 216 MW Malaysian campus in Johor Bahru. Combined capacity exceeds 1,100 MW. Stack raised over $6 billion in green financing in 2025 and sold its European colocation business in April 2025.

$30bn STACK Asia Data Centre Build-Out Draws BlackRock-Backed AIP, KKR in APAC Acquisition Race

Blue Owl has not publicly confirmed a sale; its private-credit vehicle, Blue Owl Capital Corp., notes it trades at a discount to net asset value and has no economic exposure to the Asia-Pacific assets. AIP’s leadership reaffirmed its interest in large-scale data-centre deals, citing the $40 billion Aligned acquisition as a benchmark.

AIP and Brookfield are both bidding for Stack Infrastructure's Asia operations and the $30 billion price tag explains exactly what AI has done to data center valuations

*The Australian* warns that claims of “every AI infrastructure fund on earth” bidding are exaggerated. It emphasizes that the formal sale has not started and that only a handful of large infrastructure investors are likely participants, countering broader market hype.

AIP and Brookfield are both bidding for Stack Infrastructure's Asia operations and the $30 billion price tag explains exactly what AI has done to data center valuations

Sources conflict on the lead bidder. Bloomberg and a later report name AIP as front-runner, whereas *The Australian* cites GIP, Macquarie and IFM Investors, omitting AIP. No source confirms the final bidder list or the precise sale launch date, leaving the hierarchy uncertain.

$30bn STACK Asia Data Centre Build-Out Draws BlackRock-Backed AIP, KKR in APAC Acquisition Race

A formal solicitation is expected in July 2026, with a subsequent bid-evaluation phase. A $30 billion closing would set a new regional benchmark, surpassing Blackstone’s 2024 $16.6 billion AirTrunk deal. Proceeds would allow Blue Owl to lock in gains on its flagship asset and shift Stack’s focus to its North-American portfolio.

AIP and Brookfield are both bidding for Stack Infrastructure's Asia operations and the $30 billion price tag explains exactly what AI has done to data center valuations