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Blackstone funds Aligned's USD $600M data centre development in Utah
Wed, 20th Mar 2024

Blackstone Credit and Insurance (“BXCI”) and Aligned Data Centers have announced a new strategic partnership. Blackstone will provide Aligned with an initial USD $600 million senior secured credit facility. The funding will support the development of Aligned’s newest and largest data centre, SLC-03, in West Jordan, Utah.

Aligned Data Centers, a technology infrastructure company, specialises in delivering innovative, sustainable, and adaptive Scale Data Centers and Build-to-Scale solutions for global hyperscale and enterprise customers. Committed entirely by insurance accounts managed by BXCI’s Infrastructure and Asset Based Credit Group, the recently announced senior secured credit facility underscores the dynamic financial relationship between the two companies.

Anubhav Raj, the Chief Financial Officer at Aligned, commented on Blackstone's role, saying, “Blackstone’s support contributes to Aligned’s continued growth in meeting the capacity demands of customers across the globe. The capital demands of this industry make strong financial backing crucial. Strategic financing partnerships focused on ingenuity and collaboration are a key advantage. We are excited to embark on this initial transaction and build on future opportunities with Blackstone."

Robert Horn, Global Head of Infrastructure and Asset Based Credit at BXCI, also shared his thoughts: “We are thrilled to partner with Aligned, and this partnership highlights our ability to support large-scale digital infrastructure build-out with flexible and efficient financing solutions.”

Alan Carcich, Principal, Infrastructure and Asset Based Credit at BXCI, added: “Aligned is one of the fastest growing data centre platforms in the Americas and has a focus on sustainability. We look forward to working with the Aligned team to support their continued growth.”

Developing under the new financial partnership, Aligned’s SLC-03 data centre presents as a two-story, 80 MW build-to-suit project on its hyperscale campus in West Jordan, Utah. This facility marks the company’s fourth hyperscale data centre in the Salt Lake City metro area and the third instalment on the West Jordan campus.

Providing customers the ability to scale up without disruption while maintaining industry-leading Power Usage Effectiveness (PUE), Aligned’s innovative solutions combined with their patented cooling technology offer businesses a competitive advantage by improving sustainability, reliability, and their bottom line.

In an industry with high capital demands and fast-paced growth, the strategic partnership between Blackstone and Aligned Data Centers underlines the importance of robust financial backing and an emphasis on sustainability and flexibility in the development of state-of-the-art data centres.