In 2024, Blackstone, in partnership with the Canada Pension Plan Investment Board, acquired AirTrunk for over A$24 billion, marking one of the largest data centre transactions in Asia-Pacific history. AirTrunk is a hyperscale data centre platform serving major cloud, content, and enterprise customers across the region. The company operates large-scale campuses in Sydney, Melbourne, Singapore, Tokyo, Osaka, and Hong Kong, with aggressive expansion plans to meet surging AI and cloud demand. The acquisition was underpinned by confidence in AirTrunk\u2019s build-to-scale model, its ability to deliver infrastructure rapidly, and its strategic presence in key regional digital hubs.<\/p>\n
TBH has partnered with AirTrunk since its startup phase in 2016, helping the business expand into new markets across APAC with industry leading on-time, on-budget construction performance.<\/p>\n
TBH played a significant role in the transaction, providing technical due diligence services for the sell-side team.<\/p>\n
TBH\u2019s technical due diligence assessment focused on three key elements to evaluate the risks, opportunities, and value of AirTrunk\u2019s extensive data centre portfolio across the Asia-Pacific region.<\/p>\n
Asset Evaluation
\n\u2022 Reviewed power systems, cooling infrastructure, network connectivity, and physical security measures to assess capacity, efficiency, and reliability.
\n\u2022 Construction and Operational Performance & Systems
\n\u2022 Evaluated project CAPEX\/OPEX budgets, feasibility of current and future projects, timelines, and potential risks.
\n\u2022 Design, Scalability and Expansion
\n\u2022 Analysed the design specifications, performance, and quality of existing and future data centres.
\n\u2022 Environmental
\n\u2022 Assessment of risks associated with hazmat and environmental remediation measures at each of the sites in the portfolio
\n\u2022 Assessment of adequacy of AirTrunk\u2019s enterprise level ESG systems<\/p>\n
What sets TBH apart in our support of AirTrunk\u2019s development is the depth and continuity of our involvement\u2014from startup phase through to its record-breaking A$24 billion acquisition by Blackstone and CPPIB.<\/p>\n
Since 2016, we\u2019ve been a trusted advisor, enabling AirTrunk to scale rapidly across the Asia-Pacific by ensuring each expansion was delivered on time, on budget, and aligned with investor expectations.<\/p>\n
Our data-led planning, risk management, and delivery assurance were instrumental in building the confidence that underpinned the deal\u2014Australia\u2019s largest M&A transaction in 2024 and the largest-ever data centre acquisition globally.<\/p>\n","protected":false},"excerpt":{"rendered":"
Project Overview In 2024, Blackstone, in partnership with the Canada Pension Plan Investment Board, acquired AirTrunk for over A$24 billion, marking one of the largest data centre transactions in Asia-Pacific history. AirTrunk is a hyperscale data centre platform serving major cloud, content, and enterprise customers across the region. The company operates large-scale campuses in Sydney, …<\/p>\n","protected":false},"featured_media":4329,"template":"","class_list":["post-4328","cpt-project","type-cpt-project","status-publish","has-post-thumbnail","hentry","service_category-strategic-advisory-services","industry_category-data-centres","industry_category-technology-digital","region_category-australia","group_category-tbh"],"yoast_head":"\n