Blackstone’s AirTrunk Is Said to Pick Banks for Singapore REIT IPO

Blackstone-owned data center operator AirTrunk has selected underwriting banks for a planned Singapore REIT IPO, targeting a $1.5 billion raise, according to insider sources. The IPO marks AirTrunk’s first major financial move since Blackstone’s 2024 acquisition, signaling aggressive expansion in Asia’s booming data center market. Singapore was chosen for its status as a regional financial hub and strong demand for digital infrastructure, aligning with the city-state’s push for tech-driven growth. The deal underscores Blackstone’s strategy to monetize high-growth assets amid rising global demand for cloud computing and AI-driven data storage solutions. If successful, the listing would rank among Singapore’s largest REIT IPOs, reinforcing its appeal for tech infrastructure investments.