Blackstone submits IPO paperwork for data center acquisition company.

Blackstone Group has filed its first public offering for a new data center acquisition tool, which plans to acquire assets that have been completed and leased, benefiting from the artificial intelligence boom. According to the filing submitted to the U.S. Securities and Exchange Commission on Friday, this new investment vehicle is called Blackstone Digital Infrastructure Trust Inc., and will focus on investing in newly built data centers, with individual projects valued between $250 million and $1.5 billion, leased to investment-grade hyperscale cloud providers. The documents show that these assets are expected to have an annualized return of 5.75% to 7% or higher, with rents increasing automatically by 2% to 3% each year. This move reflects the two main plans of the alternative asset management company with $1.3 trillion in assets under management: striving to become the world's largest artificial intelligence infrastructure investor and expanding its investor base from pension funds and endowments to individual investors.