Blackstone-backed hyperscale data center operator AirTrunk is about to seal a deal to sell its Johor data centers to a group of investors including Malaysian pension fund KWAP at a valuation of about US$ 1 billion, according to Reuters yesterday citing people familiar with the matter.
AirTrunk has recently postponed its planned Singapore REIT listing to possibly early next year citing market volatility and uncertainty over US interest rates. The IPO which could raise US$1.5 billion, was originally planned for launch in September or October.
Blackstone and KWAP declined to comment, as per Reuters.
Blackstone is a US alternative asset manager which owns QTS, a US data center operator, and has investments in Digital Realty and CoreWeave. It manages US$ 1.3 trillion as of June 2026 making it the largest alternative asset manager in the world.