MGX looks for data center assets in the Asia Pacific
The fund is an investor in the BlackRock-backed AI Infrastructure Partnership.
Abu Dhabi-backed technology investor MGX is seeking out data center assets in the Asia Pacific region as it capitalizes on the UAE capital's substantial financial resources. As an investor in the BlackRock-backed AI Infrastructure Partnership, MGX is engaged in exclusive discussions to acquire Stack Infrastructure's Asia Pacific data centers, a portfolio potentially valued at $25 billion, according to Bloomberg.
Stack Infrastructure, owned by US alternative asset manager Blue Owl Capital, operates sites in Australia, Japan, and Malaysia. This potential deal arrives amid challenges at another Blue Owl-backed US data center, as Oracle invoked force majeure due to permitting delays, although the project remains on schedule according to Oracle and Blue Owl Capital.
MGX is also a participant in the $500 billion Stargate venture, with the first 250 megawatts of a Stargate cluster in Abu Dhabi set for completion this year.
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