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Blackstone is essentially striking a deal with Blackstone as its portfolio firm AirTrunk is in final talks to acquire its other firm Lumina CloudInfra, as per reports.
AirTrunk builds and runs large data centres that power cloud services, big tech, and AI across Asia.
What’s brewing: AirTrunk is expected to invest up to $5 billion into Lumina, which operates across key hubs like Mumbai, Chennai, and Hyderabad, serving enterprise and hyperscale demand.
Once completed, the deal will mark AirTrunk’s entry into India while advancing its broader APAC expansion.
The move comes after Blackstone and Canada Pension Plan Investment Board acquired AirTrunk for over $16 billion in 2024, among the largest global digital infrastructure deals.
Why this matters: by folding Lumina (already in its portfolio) into AirTrunk, Blackstone is consolidating its India data centre assets under one platform, giving AirTrunk a ready-made entry and scaling its Asia-Pacific presence, much like its US playbook.
The larger picture: power is the key constraint as data centres already consume 5% of peak electricity in hubs like Mumbai, with operators facing grid delays.
But Blackstone’s energy bets, including Invenergy, could help AirTrunk secure reliable power, offering a strong edge as India’s data demand surges.
Acumen Research and Consulting
