Blackstone-owned AirTrunk, has instructed financial institutions, Citi and CIMB, to search for capital partners for its Malaysian data center, JHB1, a 150-megawatt hyperscale data centre in Johor Bahru, Malaysia, according to the Australian Financial Review (AFR) yesterday, quoting sources who declined to be named.
JHB1 was opened last year and currently hosts several big-name customers including TikTok owner ByteDance. The AI-ready facility spans 21,900 sqm (235,750 sq ft) across 20 data halls.
Among the potential buyers are several Australian superannuation funds, which have invested in data centres across the globe, from the US to Europe.
Blackstone, a global private equity giant, acquired AirTrunk for a record US$16.1 billion (A$24 billion) in September 2024 in what was then hailed as the biggest acquisition deal in the history of the data center industry. Several months after the acquisition, AFR revealed that AirTrunk was considering selling its 130 MW SYD1 data centre in Sydney. It was considered the first stabilised or mature asset that could be sold to fund other expansions. Citi and Deutsche Bank were instructed to undertake a massive portfolio review of all its data centers worth billions of dollars across Asia Pacific. Out of the 11 hyperscale data centers then, four were located in Australia.
The paper reasoned that the decision to sell part or all of AirTrunk’s completed data centers was to use the proceeds for expansion of its other data centers, as well as enhance Blackstone’s returns. With some of the data centers already backed by long-term contracts with blue-chip customers, they were ripe for sale as they could attract a good price.
Blackstone declined to comment, according to AFR.
AirTrunk was founded in 2018 and currently runs 12 facilities spanning Australia, Singapore, Japan, Hong Kong, and Malaysia.