Blue Owl Capital has secured $1.7bn for its new digital infrastructure vehicle, Blue Owl Digital Infrastructure Trust, marking another major step in the firm’s rapid expansion across the data centre market, Bloomberg reports.

The non-traded REIT held its first close and began operations on 1 December.

As part of the launch, the trust acquired interests in 11 US data centres from Blue Owl affiliates in a deal valued at about $1.5bn net of assumed debt. The sites are mostly leased to investment-grade and hyperscale tenants, underscoring the growing institutional appetite for digital infrastructure backed by long-term creditworthy customers.

Roughly 55% of the vehicle’s net assets came from private wealth clients, a segment that continues to play a bigger role in alternative investment fundraising. Blue Owl has intensified its focus on the data centre sector this year, providing more than $50bn in financing to facilities for Meta and Oracle. The firm recently said its digital infrastructure pipeline exceeds $100bn.

The trust forms part of Blue Owl’s broader evergreen platform. The firm bought data centre specialist IPI Partners last year for about $1bn, adding $10.5bn in managed assets. The vehicle will target data centres, fibre networks, towers, and related infrastructure assets on a perpetual basis.

Blue Owl raised $4.3bn across its evergreen non-traded funds between 1 October and 1 December. Of that, $2.6bn was allocated to real assets and $1.7bn to its credit platform. The fourth quarter marked a record fundraising period for these products, according to the firm.

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