Blackstone submits IPO documents for data center acquisition company

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Blackstone Group has filed for an initial public offering (IPO) for a new data center acquisition vehicle. The entity plans to acquire completed and leased assets that benefit from the AI boom. According to the filing submitted to the U.S. Securities and Exchange Commission (SEC) on Friday, this new investment vehicle is named Blackstone Digital Infrastructure Trust Inc., and will focus on investing in new data centers, with individual project valuations ranging from $250 million to $1.5 billion, and has been leased to investment-grade hyperscale cloud service providers. The filing indicates that these assets are expected to generate an annualized return of 5.75% to 7% or higher, with rents automatically increasing by 2% to 3% each year. (Sina Finance)

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