Blackstone Nears $10 Billion Acquisition of Data Center Operator Rowan
March 26, 2026
In a move that underscores the intense capital flow into digital infrastructure supporting artificial intelligence, investment titan Blackstone is in advanced discussions to acquire data center developer Rowan Digital Infrastructure. The potential deal, reported by The Information citing sources familiar with the matter, values Rowan at approximately $10 billion including debt, highlighting the premium valuations commanded by assets with significant development pipelines in strategic markets.
According to the report, negotiations are ongoing though a final agreement is not yet guaranteed. Rowan, founded in 2021 by Quinbrook Infrastructure Partners and Birch Infrastructure and backed by investor University Pension Plan Ontario, has been evaluating its strategic options since late last year. The company, previously known as Rowan Green Data, has reportedly also held talks with other potential suitors including Wren House Infrastructure, an arm of the Kuwait Investment Authority, and investment firm Sixth Street. Rowan is developing data center campuses in Maryland and Oregon, and holds sites in Texas near Temple and San Antonio.
The reported acquisition aligns with Blackstone's aggressive push to dominate AI infrastructure investment. In recent years, the firm has deployed billions into the sector, including the landmark $10 billion purchase of QTS Data Centers in 2021 and the $16.1 billion acquisition of Asia-Pacific operator AirTrunk alongside the Canada Pension Plan Investment Board in 2025. Its portfolio also includes stakes in various digital infrastructure firms such as Vnet, Lumina CloudInfra, and Winthrop Technologies, alongside joint ventures with established players like Digital Realty.
A successful acquisition of Rowan would significantly expand Blackstone's physical footprint and development capacity in key U.S. data center hubs, positioning it to capitalize on the exploding demand for computing power driven by AI models and cloud services. The deal reflects a broader industry trend where financial giants are competing to secure control over the scarce, critical assets of power, land, and connectivity necessary for next-generation data centers. Both Blackstone and Rowan declined to comment on the report.
Source: datacenterdynamics
