AirTrunk expands into India by purchasing Lumina CloudInfra.

      The transaction represents an internal consolidation within Blackstone, as both AirTrunk (acquired for A$24 billion in 2024) and Lumina CloudInfra (established by Blackstone in 2022) are part of the same portfolio. By merging Lumina with AirTrunk, Blackstone secures a presence in India’s hyperscale market for its Asia-Pacific data centre platform without involving a third-party buyer. The terms of the deal were not revealed.

      AirTrunk, owned by Blackstone and recognized as the largest data centre operator in the Asia-Pacific region, is acquiring Lumina CloudInfra, which focuses on data centre development in India. This marks AirTrunk's entry into one of the most rapidly growing digital infrastructure markets globally.

      The acquisition provides AirTrunk with access to Lumina’s development pipeline, customer contracts, and operational capabilities, including around 600 megawatts of planned capacity in major Indian cities, representing potential development worth up to $5 billion. Financial details were not disclosed.

      The deal features an atypical structure since both companies belong to Blackstone. Lumina CloudInfra, launched by Blackstone in 2022 as an independent India-focused hyperscale data centre platform, was initially established with considerable capital and is led by experienced local industry professionals.

      AirTrunk was acquired by Blackstone in December 2024 for A$24 billion, marking Blackstone’s largest transaction ever in the region. Instead of seeking a third-party buyer, Blackstone is consolidating its two data centre platforms under one operational entity, providing AirTrunk with a built-in entry point into India, complete with established land holdings, customer relationships, and a management team well-versed in the local market.

      After the acquisition, AirTrunk will operate in six markets: Australia, Singapore, Japan, Malaysia, Hong Kong, and India, with a combined portfolio exceeding 3 gigawatts of operating and planned capacity across 20 campuses. Lumina’s planned 600MW pipeline will be distributed among India’s Tier-1 cities, starting with Mumbai and Chennai, and extending to Pune, Delhi/NCR, and Hyderabad.

      Sujeet Deshpande, Lumina’s co-founder and CEO, and a previous head of Colt Data Center Services in India, characterized the deal as merging "local strength with global platforms." Robin Khuda, AirTrunk’s founder and CEO, emphasized India as “one of the largest and fastest-growing markets for hyperscale and AI infrastructure globally,” asserting that the acquisition equips the company to provide the "scale, speed, and performance" customers require as they expand in the APAC region.

      Peng Wei Tan, Senior Managing Director of Real Estate at Blackstone, referred to it as strengthening "one of Blackstone’s highest conviction themes, digital infrastructure," highlighting that as the world’s largest data centre investor, Blackstone is well-positioned to address the increasing demand in Asia-Pacific's fastest-growing economies.

      India's data centre market has seen considerable international investment lately, as hyperscale cloud providers such as AWS, Microsoft Azure, and Google Cloud ramp up their infrastructure developments in the country. Blackstone has previously committed around $11 billion to Indian data centres, with Lumina serving as the main vehicle for this investment.

      Integrating Lumina into AirTrunk’s global operational framework offers these Indian investments access to AirTrunk’s hyperscale customer network, global design and construction standards, and Blackstone’s comprehensive capital resources, representing a consolidation of capabilities rather than a mere financial transaction.