Blackstone vehicle aims to raise over $1.7 billion in US IPO to fund data center bet

A newly minted Blackstone investment vehicle is aiming to raise slightly over $1.7 billion in an initial public offering in the United States to capitalize on booming demand in the data center sector.

Blackstone Digital Infrastructure Trust, which will acquire newly built data centers, is offering 87.5 million shares, including 725,987 ‌bonus shares, ⁠in the ⁠IPO at $20 apiece, it said on Monday.

U.S. IPO activity picked up in April, with a surge in new filings signaling improving risk appetite and a growing pipeline that could sustain momentum in the coming months.