BlackRock and IFM Investors are in exclusive talks to acquire a data center portfolio worth $25 billion, extending a run of major infrastructure deals by the asset manager. The talks follow a $40 billion acquisition, a $14 billion Meta joint venture, and a $27 billion tie-up with Spain's ACS.
BlackRock and IFM Investors are reportedly in exclusive talks to acquire a data center portfolio valued at $25 billion, adding another large transaction to a spending spree on AI infrastructure by the world's largest asset manager. The talks add to a series of data center deals the firm has struck through its infrastructure arm.
BlackRock's data center empire keeps growing
The talks build on a string of deals this year. In July 2026, BlackRock's Global Infrastructure Partners closed a $40 billion acquisition of Aligned Data Centers, a deal that handed the firm control of more than 51 campuses and over 6.4 gigawatts of capacity. That transaction included a $5 billion commitment earmarked for future growth.
Days later, BlackRock announced an 80/20 joint venture with Meta to develop a $14 billion data center in El Paso, Texas. The facility is expected to deliver 1 gigawatt of capacity when it comes online around 2028. BlackRock also formed a roughly $27 billion joint venture with Spain's ACS for broader data center development.
Why IFM makes sense as a partner
IFM Investors manages roughly A$230 billion in assets on behalf of pension funds, making it one of the largest institutional investors in the infrastructure space globally. The Melbourne-based firm has been building its own data center expertise, having acquired Swiss data center operator Green Group in July 2025.
Large technology companies like Meta increasingly seek off-balance-sheet solutions for their AI capital expenditure programs. Rather than owning data centers outright, they prefer to lease capacity from financially sophisticated landlords who can absorb the upfront construction costs.
Source: Crypto Briefing
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