BlackRock and IFM Investors Pursued Data Center Deal
The investment giants have entered exclusive talks to acquire a massive $25 billion data center portfolio.
Updated on Sept. 24, 2026 in Data Centers
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BlackRock and IFM Investors are in exclusive negotiations to acquire a data center portfolio valued at $25 billion. The potential deal signals continued consolidation among asset managers seeking infrastructure assets to support the expansion of global technology firms.
Why it matters
Tech companies are increasingly utilizing leased capacity to avoid massive upfront capital expenditures, driving asset managers to secure long-term infrastructure holdings. These joint ventures provide the necessary scale for firms to manage, finance, and operate large-scale digital hubs.
The firms are evaluating a $25 billion portfolio, adding to the $40 billion Aligned Data Centers acquisition which includes 51 campuses and 6.4 gigawatts of total capacity. This follows previous major investments, including a $14 billion Meta venture and a $27 billion deal with ACS.
The players
BlackRock
BlackRock is a global investment management firm that manages trillions of dollars in assets for clients worldwide.
IFM Investors
Headquartered in Melbourne, IFM Investors is a global institutional investment manager that specializes in infrastructure.
Meta
Meta is a technology conglomerate that owns and operates major social media platforms and invests heavily in global digital infrastructure.
ACS
ACS is a major infrastructure construction and services firm based in Spain that partners with investors on large-scale development projects.
The details
Technology companies rely on landlord-managed data centers to offload capital expenditure obligations while ensuring consistent network performance. IFM Investors, which manages approximately A$230 billion in assets, continues to expand its reach in the sector following its July 2025 acquisition of the Switzerland-based Green Group.
Timeline
IFM Investors acquired Green Group in July 2025.
BlackRock completed its $40 billion acquisition of Aligned Data Centers in July 2026.
BlackRock announced a $14 billion joint venture with Meta in July 2026.
A new Meta data center in El Paso is expected to come online in 2028.
The Tech Race
The push for large-scale data center portfolios marks a shift toward industrial-scale infrastructure management to meet the demands of AI and cloud computing. The sector is moving beyond legacy facilities to massive campus developments like the 1 gigawatt El Paso Meta project, necessitating huge asset manager involvement.
The consolidation of data centers by asset managers helps ensure that major digital platforms remain operational and scalable for end-users. While investors gain predictable infrastructure returns, consumers benefit from the increased reliability and speed of the cloud-based services they use daily.
The takeaway
The multi-billion dollar trend toward institutional ownership of data centers reflects the massive energy and land requirements of modern digital infrastructure. Readers should note that these behind-the-scenes financial deals are the primary engine enabling the rapid expansion of the internet and AI services.
What happens next
The Meta data center in El Paso is currently projected to reach full capacity by 2028.
Further reading
For more information on the infrastructure financing driving modern digital growth, visit the Data Centers section.
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