A newly minted Blackstone investment vehicle is aiming to raise slightly over $1.7 billion in an initial public offering in the United States to bet on the red-hot data center industry.
Blackstone Digital Infrastructure Trust, which will acquire newly constructed data centers, is offering 87.5 million shares, including 725,987 bonus shares, in the IPO at $20 apiece, it said on Monday.
Data centers have emerged as prized assets in recent years, fueled by the rapid growth of digital infrastructure that powers artificial intelligence workloads.
Goldman Sachs, Citigroup, Morgan Stanley, Barclays, BofA Securities, Deutsche Bank Securities, J.P. Morgan, RBC Capital Markets and Wells Fargo Securities are acting as joint lead book-running managers.
Blackstone Digital Infrastructure Trust will list on the New York Stock Exchange under the symbol “BXDC”.
