Macquarie Asset Management, on behalf of two of its privately managed infrastructure funds along with its co-invest partners, has agreed to the sale of Aligned Data Centers ("Aligned" or "the Company") to a consortium of investors comprising the AI Infrastructure Partnership (AIP), MGX and BlackRock's Global Infrastructure Partners. The transaction implies an enterprise value of approximately $US40 billion, making it the largest to date for global data centers.1 Aligned, headquartered in Dallas, Texas, is a leading provider of innovative, sustainable and adaptive data center solutions supporting hyperscale and enterprise customers across North and South America. The transaction is expected to close in the first half of 2026, subject to regulatory approvals and customary closing conditions.
Macquarie Asset Management, via Macquarie Infrastructure Partners IV ("MIP IV"), made its initial investment in Aligned in April 2018, and via Macquarie Infrastructure Partners V ("MIP V"), acquired an additional stake in Aligned in July 2020. Under Macquarie Asset Management's ownership, the Company has expanded from two operational facilities in Dallas and Phoenix with 85 MW of critical capacity to become a leading hyperscale data center platform with over 5 GW of operational and planned capacity, including assets under development, across 50 data centers in the United States, Mexico, Brazil, Chile and Colombia. Aligned also obtained the first-ever green data center securitization, and first-ever sustainability-linked financing for a data center platform.
"This transaction underscores Macquarie Asset Management's ability to consistently identify key thematics early and find opportunities that create value for our clients and partners," said Ben Way, Head of Macquarie Asset Management. "The scaling of Aligned Data Centers from two locations to 50 in seven years is representative of our approach to working with great companies and teams to support their rapid growth and deliver positive impact."
"Over the last 20 years, Macquarie Infrastructure Partners has been investing in critical infrastructure in the Americas, and the digital and communications sectors, including the investment in Aligned, have been a core part of this strategy," added Karl Kuchel, CEO of Macquarie Infrastructure Partners. "As a long-term infrastructure investor, we have partnered with management teams to develop and scale digital, energy and other infrastructure platforms and Aligned is another example of successfully implementing this approach to deliver a strong outcome for MIP investors."
"We are proud of Aligned's growth journey since we invested into the company in 2018 and appreciate the support of the management team and our clients and partners. We shared a vision with the Aligned management team to build a scaled pure-play hyperscale data center platform in the Americas with a differentiated land bank with access to scaled near term power in core markets," said Anton Moldan, Senior Managing Director at Macquarie Asset Management. "Today's announcement marks the realization of that vision and reflects the quality and strength of Aligned as a world class platform."
"The Aligned story is one of genuine partnership and foresight, and we appreciate the incredible collaboration with Macquarie Asset Management on our growth journey," said Andrew Schaap, CEO of Aligned Data Centers. "We are proud of what we have achieved together in expanding our footprint and bringing our innovative solutions to our core customers, and we are excited about our next chapter in fueling AI expansion."
For more than two decades, Macquarie Asset Management has invested globally in digital infrastructure, including data center platform operators AirTrunk, Aligned, Applied Digital, Bohao Internet Data Services, Hanam Data Centre, Netrality Data Centers and VIRTUS, as well as fiber networks and cell towers. This marks Macquarie Asset Management's second record-breaking data center transaction in the last year, following the 2024 sale of AirTrunk to a consortium of investors which valued the company at $A24 ($US16) billion including debt and planned capital expenditure.
Guggenheim Securities, LLC acted as lead financial advisor to the sellers, with Wells Fargo, TD Securities, Deutsche Bank, Goldman Sachs & Co. LLC, J.P. Morgan, Citizens JMP Securities, LLC and BofA Securities, Inc also serving as financial advisors. Latham & Watkins served as legal counsel to the sellers and Sterlington, PLLC served as legal counsel to Aligned's management team.
About Macquarie Asset Management
Macquarie Asset Management is a global asset manager, integrated across public and private markets. Trusted by institutions, governments, foundations and individuals to manage approximately $US588.1 billion in assets, we provide a diverse range of investment solutions including real assets, real estate, credit and equities & multi-asset.
Macquarie Asset Management is part of Macquarie Group, a diversified financial group providing clients with asset management, finance, banking, advisory, and risk and capital solutions across debt, equity and commodities. Founded in 1969, Macquarie Group employs over 19,000 people in 31 markets and is listed on the Australian Securities Exchange.2
Important Notices (Macquarie Asset Management): None of the entities noted in this media release is an authorised deposit-taking institution for the purposes of the Banking Act 1959 (Commonwealth of Australia) and the obligations of these entities do not represent deposits or other liabilities of Macquarie Bank Limited ABN 46 008 583 542 (Macquarie Bank). Macquarie Bank does not guarantee or otherwise provide assurance in respect of the obligations of these entities. In addition, if this media release relates to an investment (a) each investor is subject to investment risk including possible delays in repayment and loss of income and principal invested and (b) none of Macquarie Bank or any other Macquarie Group company guarantees any particular rate of return on or the performance of the investment, nor do they guarantee repayment of capital in respect of the investment.
