Digital Realty and Blackstone to form a joint venture in a $875m deal.

Digital Realty, a provider of cloud- and carrier-neutral data center, colocation and interconnection solutions, and Blackstone, a private equity firm, agreed to form a joint venture, in a $875m deal. Blackstone will acquire an 80% ownership interest in the joint venture for approximately $700m of initial capital contributions, while Digital Realty will maintain a 20% interest. “By partnering with Blackstone, the world’s largest alternative asset manager, Digital Realty is better able to deliver capacity to meet the burgeoning demand of our hyperscale customers, by accessing a deep pool of likeminded private capital. Digital Realty is focused on executing on the sizable opportunity that lies ahead and this partnership helps to accelerate the monetization of nearly 20% of our industry-leading land bank," Andy Power, Digital Realty President and CEO.