BlackRock / MGX consortium completes $40B Aligned Data Centers acquisition
The BlackRock / MGX consortium has completed its $40 billion acquisition of Aligned Data Centers — one of the largest private infrastructure deals in history. The transaction underscores how AI workloads are now driving multi-decade infrastructure capital allocation at sovereign-fund scale.
Aligned operates 50+ data centers across North America, Europe, and Asia, with a substantial portion already leased to hyperscaler customers running AI training and inference workloads. The acquisition gives BlackRock/MGX (an Abu Dhabi sovereign wealth vehicle) direct exposure to the physical-layer AI buildout.
The deal structure matters: BlackRock's involvement signals that pension-fund-class capital is now flowing into AI infrastructure on terms that wouldn't have been available a year ago. This is the long-duration capital the buildout needs — and historically the first place corrections show up when AI demand softens.