Blue Owl Capital's Stack Infrastructure is seeking an AU$1.3 billion (US$833 million) loan to build out data centers in Australia.
Reported by Bloomberg and citing unnamed people familiar with the matter, Deutsche Bank AG, Mitsubishi UFJ Financial Group, Natixis SA, Oversea-Chinese Banking Corp, and Societe Generale SA are the mandated lead arrangers and bookrunners on the deal.
The loan is reportedly for a five-year period, and the deal will be syndicated to the broader market.
Neither Stack nor Blue Owl responded to Bloomberg's requests for comment.
Stack Infrastructure entered the Australian market in 2022 after taking over three development projects owned by local developer Hickory. The company currently operates data centers in Canberra and Melbourne, Australia.
CAN01 is located in Hume, a Canberra suburb, and offers 28MW of IT capacity from one building. In Melbourne, the company operates a two-building campus, which launched in 2023, with each data center offering 36MW of capacity.
The company's website lists 180MW of capacity in Melbourne despite having only one 72MW campus shown as operating. DCD has contacted Stack to see if this suggests the company has developments in the area underway.
The company filed for another data center campus in Sydney earlier this year. In a SEARS application with the New South Wales government, Stack was shown to have filed for a 450MW data center campus at 78 Lockwood Road in Penrith's Erskine Park.
The company is also thought to be planning a 24MW data center in Wangara, Perth – though the status of the latter project is unclear.
Elsewhere in APAC, Stack is developing data centers in Japan, Malaysia, and South Korea.
IPI launched Stack in 2019 after merging several T5 data centers with three Infomart facilities acquired the previous year into a new operator. Stack now has some 4GW in operation or development globally, with another 6GW planned in the future. Stack’s owner, IPI, was acquired by Blue Owl in October 2024.
Last month, Stack sold its European business to investment fund Apollo, handing over seven data centers in five markets - Stockholm, Oslo, Copenhagen, Milan, and Geneva.
