Blackstone Digital Infrastructure Trust (BXDC.US) listed on the New York Stock Exchange today: raising $1.75 billion, focusing on AI data centers.

Blackstone Digital Infrastructure Trust Company (BXDC.US) raised $1.75 billion in its initial public offering in the United States, with investors showing no signs of waning enthusiasm for artificial intelligence infrastructure. According to a statement released by the company on May 13 (Wednesday), it sold 87.5 million shares at a fixed price of $20 per share and officially listed on the New York Stock Exchange on May 14 (Thursday) under the ticker symbol BXDC. The asset management company's data center acquisition tool aims to acquire properties that are already built and leased, benefiting from the artificial intelligence boom. According to CareTrust REIT Inc's filings, its goal is to acquire newly built data centers valued between $250 million and $1.5 billion and lease them to investment-grade hyperscale data center operators. This move reflects two major strategic initiatives of the alternative asset management company, which manages $1.3 trillion in assets: striving to become the world's largest investor in artificial intelligence infrastructure and expanding its business beyond pension and endowment fund markets to individual investors. This offering also further advances Blackstone Inc.'s extensive presence in the data center sector. The company stated in its previous disclosures: "We anticipate that the total addressable market for stable operating data centers will reach $1 trillion in the next five years, and we believe that this industry represents a significant investment opportunity." According to the filings, this IPO of CareTrust REIT Inc (REIT) in a so-called "blind pool" form is the largest to date, as the company has not yet acquired any data center assets. According to the filings, investors participating in the offering will receive additional bonus shares equivalent to 1% of their purchased shares, rounded down to the nearest whole number of shares. The filings also show that a Blackstone Inc. affiliate had expressed interest in purchasing up to $200 million worth of shares in the investment tool, excluding the total purchase price of the bonus shares. The Blackstone Digital Infrastructure Trust Fund will be externally managed by an affiliate entity within Blackstone Inc., and will receive base and incentive fees. Within 24 months of the completion of the offering, the trust fund will have priority over other Blackstone funds in receiving income-generating, stable operating long-term, turnkey data center acquisition projects provided by the company. The offering was led by Goldman Sachs Group, Inc., Citigroup, Morgan Stanley, Barclays PLC Sponsored ADR, Bank of America Corp, Deutsche Bank Aktiengesellschaft, JPMorgan Chase, Royal Bank of Canada, and Wells Fargo & Company.