Wall Street Journal, citing people familiar, says BlackRock is leading at least
$12 bln of debt financing to fund a Meta Platforms-backed hyperscale data center
campus in El Paso, Texas. BlackRock’s infrastructure and private credit units
hold about 80% of the project’s equity; Meta will hold the remaining 20% as the
user. The campus is expected to offer roughly 1 GW of compute capacity. JP
Morgan and Morgan Stanley are leading the debt issuance and marketing the deal
to other investors. BlackRock has invested heavily in data centers over the past
year, including a $40 bln acquisition of Aligned Data Centers; Meta recently
agreed to lease capacity at an under‑construction Aligned facility in
Shippensburg, Pennsylvania.
