Blackstone has increased its senior secured debt facility for Aligned Data Centers to more than $1bn, as private credit firms ramp up financing for the global data centre boom supporting artificial intelligence, according to a Bloomberg report. 

The debt, provided by Blackstone’s credit and insurance platform, will fund Aligned’s plan to add five gigawatts of capacity across the Americas. Blackstone had initially committed $600m in March 2024 to finance an 80MW project near Salt Lake City.

Dallas-based Aligned has raised more than $7bn in debt and over $5bn in equity from investors, including Macquarie Asset Management, to fuel its expansion.

Private credit managers have become crucial sources of capital for data centre operators, offering financing ranging from real estate loans to private investment-grade bonds. In one of the largest such deals to date, Meta Platforms selected Pimco and Blue Owl Capital to lead a $29bn financing for its US data centre growth.

Blackstone’s move underscores the scale of private equity’s role in supporting the infrastructure powering AI adoption, as capital-intensive projects accelerate across global markets.

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