Blackstone Digital Infrastructure Trust, a newly-formed REIT by Blackstone targeting data centers leased to hyperscalers, raised $1.75 billion by offering 87.5 million shares at $20. IPO investors will receive an additional 1% of their investment in bonus shares, for an effective purchase price $19.80. Blackstone had indicated on $200 million worth of shares in the offering (11% of the deal).
Blackstone Digital Infrastructure Trust is focused on acquiring and owning mission-critical data center assets that power the modern digital economy, planning to target newly-constructed, income-generating, stabilized data center properties leased to investment-grade hyperscale tenants on long-term contracts. Its strategy focuses on essential digital infrastructure assets that serve as the backbone for cloud computing, AI, and the broader digital transformation driving economic growth. As a REIT, BXDC plans to make quarterly distributions.
The New York, NY-based company will trade on the NYSE under the symbol BXDC. Goldman Sachs, Citi, Morgan Stanley, Barclays, BofA Securities, Deutsche Bank, J.P. Morgan, RBC Capital Markets, Wells Fargo Securities, BNP Paribas, SMBC Nikko, Societe Generale, BBVA, BMO Capital Markets, Credit Agricole CIB, MUFG Securities America, Santander, and TD Securities acted as joint bookrunners on the deal.
