DALLAS — A consortium led by BlackRock’s Global Infrastructure Partners, Abu Dhabi’s MGX and the Artificial Intelligence Infrastructure Partnership has entered into an agreement to acquire Dallas-based Aligned Data Centers for approximately $40 billion.
The sellers are Macquarie Asset Management and its co-investment partners. Subject to regulatory approvals, the transaction is expected to close in the first half of 2026.
This deal marks Macquarie Asset Management’s second major data center transaction in the last year, following the 2024 sale of AirTrunk to a consortium of investors that valued the company at $16 billion.
Aligned Data Centers has rapidly scaled across North and South America, serving hyperscale, AI and enterprise customers. In recent years, Aligned has expanded its footprint from two operational facilities in Dallas and Phoenix to more than 50 campuses across the United States, Mexico, Brazil, Chile and Colombia, representing over 5 gigawatts (GW) of operational and planned capacity, including assets under development.
Aligned also obtained the first-ever green data center securitization, and first-ever sustainability-linked financing for a data center platform, according to company representatives.
“This transaction underscores Macquarie Asset Management’s ability to consistently identify key thematics early and find opportunities that create value for our clients and partners,” says Ben Way, head of Macquarie Asset Management.
Macquarie Asset Management made its initial investment in Aligned in April 2018 through its Macquarie Infrastructure Partners IV private equity fund. Additionally, via its Macquarie Infrastructure Partners V infrastructure core plus fund, the company acquired an additional stake in Aligned in July 2020.
“The Aligned story is one of genuine partnership and foresight, and we appreciate the incredible collaboration with Macquarie Asset Management on our growth journey,” says Andrew Schaap, CEO of Aligned Data Centers. “We are proud of what we have achieved together in expanding our footprint and bringing our innovative solutions to our core customers, and we are excited about our next chapter in fueling AI expansion.”
Guggenheim Securities LLC served as lead financial advisor for the sellers, along with Wells Fargo, TD Securities, Deutsche Bank, Goldman Sachs & Co. LLC, J.P. Morgan, Citizens JMP Securities LLC and BofA Securities Inc. Additionally, Latham & Watkins provided legal counsel to the sellers, while Sterlington PLLC provided legal counsel to Aligned’s management team.
Macquarie Asset Management manages approximately $588 billion in assets and has invested globally in digital infrastructure, including data center platform operators AirTrunk, Aligned, Applied Digital, Bohao Internet Data Services, Hanam Data Centre, Netrality Data Centers and VIRTUS, as well as fiber networks and cell towers.
— Abby Cox