Blackstone’s AirTrunk Is Said to Explore Singapore REIT IPO

AirTrunk, the Australian data-center operator that Blackstone Inc. bought in a record 2024 deal, is considering options including a potential real estate investment trust listing in Singapore, people familiar with the matter said.

AirTrunk has held initial discussions with prospective advisers about a possible REIT initial public offering that could raise more than $1 billion, according to the people, who asked to not be identified because the information is private. A listing could take place as soon as 2026 if it decides to go ahead, they said.

Blackstone and Canada Pension Plan Investment Board acquired AirTrunk for A$24 ...