Milbank LLP advised global infrastructure investment manager Wren House Infrastructure Management Limited, the direct infrastructure investments arm of the Kuwait Investment Authority, in connection with The Artificial Intelligence Infrastructure Partnership (“AIP”), MGX, and BlackRock’s Global Infrastructure Partners’ (“GIP”) (collectively, the “Consortium”) acquisition of 100% of the equity in Aligned Data Centers (“Aligned”) from private infrastructure funds managed by Macquarie Asset Management and its co-invest partners. The transaction will fuel the expansion of next-generation cloud and AI infrastructure and implies an Aligned enterprise value of approximately $40 billion.
Aligned is one of the largest and fastest growing data center companies globally. Aligned designs, builds, and operates cutting-edge data campuses and data centers for the world’s premier hyperscalers, neocloud, and enterprise innovators. Aligned’s portfolio includes 50 campuses and more than 5 gigawatts of operational and planned capacity, including assets under development, primarily located in key Tier I digital gateway regions across the US and Latin America.
The Milbank team was led by Global Corporate/M&A partner and co-head of Milbank’s Global Infrastructure practice John Franchini and Global Corporate/M&A partner Aaron Stine with associates Sarah Griffin and Jackie Karol and law clerk Gavin Small. The team also included Tax partners Max Goodman and Andrew Walker and associate Michael Rivkin; Global Project, Energy and Infrastructure Finance partner Jenna McGrath; Global Risk & National Security partner John Beahn and associate Clayton Melton; Environmental partner Thomas Goslin; Corporate Finance and Securities partner Paul Denaro; and Transportation & Space associate Darren Fernandez.
