JSM’s cross-practice team in Hong Kong acted as Hong Kong legal counsel to Blackstone and the buyer consortium formed with the Canada Pension Plan Investment Board on the acquisition of AirTrunk, a leading Asian data center operator, for an implied enterprise value of A$24 billion (US$16.1 billion), working alongside Simpson Thacher & Bartlett to consummate the transaction. This represents Blackstone’s largest-ever investment in the Asia Pacific region.
AirTrunk is the largest data center platform in the Asia Pacific region, with a sizeable presence in Australia, Japan, Malaysia, Hong Kong, and Singapore. It has more than 800MW of operational capacity dedicated to meeting customers’ needs and owns land with the potential for future expansion to accommodate more than 1GW of capacity across the region.
The JSM team was led by Real Estate partners Peter Ho and Eugene Wong, assisted by associate Ronnie Chan. The team also included Real Estate partner Jasmine Chiu and associate Stephanie Bow; IP&TMT associate Grace Wong; and Construction partner Jason Leung.
