© Reuters. FILE PHOTO: Signage is seen exterior the Blackstone Group headquarters in New York Metropolis, U.S., January 18, 2023. REUTERS/Jeenah Moon//File Picture
(Reuters) – U.S. funding big Blackstone (NYSE:) and data-center agency Digital Realty (NYSE:) will create a three way partnership that can spend $7 billion on growing information facilities, the businesses mentioned on Thursday.
The enterprise plans to develop 10 information facilities throughout 4 campuses in Frankfurt, Paris and northern Virginia, the businesses mentioned.
Demand for information facilities has remained resilient even in an unsure financial system as extra companies transfer to the cloud.
Blackstone will purchase an 80% possession curiosity in thejoint enterprise for about $700 million of preliminary capital contributions, whereas Digital Realty will keep a 20% curiosity.
The three way partnership is scheduled to shut in two phases over the course of the primary half of 2024.
