Blue Owl Capital has sealed a landmark $30bn financing deal with Meta Platforms to fund the tech giant’s new Hyperion data centre in Louisiana, marking the largest private capital transaction ever completed, Bloomberg reports.

Under the agreement, Blue Owl and Meta will share ownership of the facility, with Meta retaining a 20% stake. The financing package comprises $27bn in debt and $2.5bn in equity arranged by Morgan Stanley through a special purpose vehicle, a structure increasingly used by hyperscalers to fund large-scale projects without adding leverage to their balance sheets.

Pacific Investment Management Co. (PIMCO) is the anchor lender on the deal. The debt, which matures in 2049, is fully amortising and has been rated A+ by S&P. The bonds were priced at around 225 basis points over U.S. Treasuries.

The Hyperion site, located in Richland Parish, will span over 4 million square feet and is expected to draw up to 5 gigawatts of power, roughly equivalent to the energy needs of four million homes. Once completed in 2029, it will be Meta’s largest data centre worldwide and a critical part of its AI infrastructure buildout.

The deal highlights a new wave of partnerships between private capital providers and large technology firms as demand for AI-related infrastructure accelerates. According to Bloomberg data, U.S. technology companies issued $157bn in bonds through late September, a 70% increase from last year.

Morgan Stanley acted as sole bookrunner and financial advisor to Meta on the transaction.

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