BlackRock unveils £500 million bet on UK data centers

New York: BlackRock Inc. plans to invest up to £500 million ($678 million) in Britain’s data center market, a move unveiled as Chief Executive Officer Larry Fink prepares to join US President Donald Trump on his state visit to the UK.

The asset manager has acquired a site in west London to seed a new venture with operator Gravity Edge, according to a statement. The partnership, called Digital Gravity Partners, will focus on buying existing data centers with underused capacity, said Thomas Mueller-Borja, BlackRock’s global co-head of real estate.