Blue Owl Capital (OWL.US) is targeting the IPO surge in AI data centers and plans to package approximately $6.5 billion in assets into a new REIT for listing.

According to informed sources, alternative asset management company Blue Owl Capital (OWL.US) is planning to establish a CareTrust REIT Inc (REIT) focused on data center assets and is pushing for its initial public offering (IPO) to enter the capital market. As infrastructure construction for artificial intelligence continues to heat up, data center companies are accelerating their entry into the IPO market, and Blue Owl hopes to leverage the public market to further expand its data center investment landscape. Sources indicate that the proposed data center REIT is expected to raise funds through an IPO and may seek additional capital through further stock issuances after going public. One insider revealed that Blue Owl might initially inject approximately $6.5 billion worth of its own data center assets into the new REIT to establish its initial asset base. If the plan is ultimately implemented, Blue Owl will be able to consolidate some of its data center assets into a standalone publicly traded platform, establishing new financing channels through the IPO and subsequent stock issuances to support further acquisitions, development, and expansion of data center assets. Currently, the relevant plans are still underway, and specific details regarding the size, valuation, and timing of the IPO have yet to be disclosed. Following the news, Blue Owl's stock price rose 0.93% in Friday morning trading, closing at $11.95. Other data center REITs also saw gains, with Equinix (EQIX.US) rising 0.30% to $1,044 and Digital Realty (DLR.US) increasing 0.69% to $189.08. The company's plans are driven by the growing demand for data center investments fueled by the AI boom. As major technology companies and cloud service providers ramp up the construction of AI infrastructure, the demand for computing power, electricity, and data center capacity is surging. Meanwhile, the substantial capital required for data center construction is prompting operators and asset management firms to increasingly utilize IPOs, bonds, private credit, and REITs to raise funds. Blue Owl is not the only large asset management firm attempting to expand its data center business through the public market. In May of this year, Blackstone Inc. (BX.US) launched its newly formed data center REIT, Blackstone Digital Infrastructure Trust (BXDC.US), which completed its IPO in the U.S., issuing 87.5 million shares at $20 each, raising approximately $1.75 billion. Additionally, data center operator Csquare (CSQR.US), supported by Brookfield (BN.US), has also entered the capital market, issuing 50 million shares at $21 each and raising about $1.05 billion through its IPO. Now, Blue Owl's plan to join this trend further illustrates how the AI boom is accelerating the entry of data center assets into the public capital market. Compared to some firms that need to gradually build their asset portfolios, Blue Owl's proposed REIT may start with approximately $6.5 billion in data center assets as its foundation. For Blue Owl, the significance of establishing a data center REIT lies not only in listing existing assets. If the new company successfully enters the capital market, it is expected to become a long-term platform for data center asset consolidation and financing, securing initial funding through the IPO and then leveraging subsequent stock issuances to raise capital for acquiring or constructing more data centers.