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Macquarie to sell Aligned Data Centers for $40B - InforCapital

Macquarie to sell Aligned Data Centers for $40B, marking the largest data center deal globally amid booming AI infrastructure demand.

AM
Alvaro de la Maza

Partner at Aninver

Key Takeaways

  • Blackrock, Global Infrastructure Partners (GIP) acquired Macquarie Group for $40.0B.
  • Sector: Digital Infrastructure.
  • Geography: United States.

Analysis

Macquarie Asset Management, acting on behalf of two of its infrastructure funds and co-invest partners, has agreed to the sale of Aligned Data Centers to a consortium comprising the AI Infrastructure Partnership (AIP), MGX, and BlackRock’s Global Infrastructure Partners. The deal values Aligned at approximately US$40 billion, making it the largest global data center transaction to date.

AIP was founded by BlackRock, Global Infrastructure Partners (GIP), a part of BlackRock, MGX, Microsoft, and NVIDIA to expand capacity of AI infrastructure and help shape the future of AI-driven economic growth. Its financial anchor investors include the Kuwait Investment Authority and Temasek.

Aligned Data Centers, headquartered in Dallas, Texas, is a leading provider of adaptive, sustainable data center solutions for hyperscale and enterprise customers across North and South America. The deal is expected to close in the first half of 2026, pending regulatory approvals and customary conditions.

Macquarie first invested in Aligned in 2018 via MIP IV, followed by a larger stake in 2020 via MIP V. Under its ownership, Aligned scaled from two facilities in Dallas and Phoenix with 85 MW to over 5 GW of capacity across 50 data centers in the US, Mexico, Brazil, Chile, and Colombia.

Aligned achieved multiple industry firsts, including the first-ever green data center securitization and the first sustainability-linked financing for a data center platform, reinforcing its leadership in digital infrastructure.

Ben Way, Head of Macquarie Asset Management, said: “The growth from two locations to 50 in seven years showcases our ability to identify key thematics and work alongside high-growth companies to scale impactful platforms.”

Karl Kuchel, CEO of Macquarie Infrastructure Partners, added: “Aligned exemplifies our 20-year track record in building critical infrastructure in the Americas, especially within digital and communications sectors.”

Anton Moldan, Senior Managing Director, commented: “We shared a vision with Aligned’s leadership to build a pure-play hyperscale platform with access to near-term power and strategic land banks. This sale reflects the realization of that vision.”

Andrew Schaap, CEO of Aligned, said: “We’re proud of our journey with Macquarie and excited for the next chapter as we continue supporting the expansion of AI infrastructure.”

This marks Macquarie’s second record-breaking data center exit in a year, following the 2024 sale of AirTrunk for A$24 billion (US$16 billion). Macquarie’s digital infra portfolio includes investments in AirTrunk, Applied Digital, Bohao, Netrality, VIRTUS, and fiber and tower networks.

Guggenheim Securities acted as lead financial advisor. Other advisors included Wells Fargo, TD Securities, Deutsche Bank, Goldman Sachs, J.P. Morgan, Citizens JMP, and BofA Securities. Latham & Watkins advised the sellers, with Sterlington PLLC advising Aligned management.