AirTrunk expands into India through the acquisition of 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 enables its Asia-Pacific data centre platform to establish a presence in India’s hyperscale market without involving a third-party acquisition. The financial details of the deal were not revealed.

      AirTrunk, which operates data centres in the Asia-Pacific and is owned by Blackstone, is purchasing Lumina CloudInfra, a developer of India-focused data centres, signifying AirTrunk’s entrance into one of the fastest-growing digital infrastructure markets globally. This acquisition provides AirTrunk with access to Lumina’s development pipeline, customer contracts, and operational expertise, including around 600 megawatts of planned capacity in major Indian cities, representing a development potential of up to $5 billion. The financial terms were not disclosed.

      The structure of the deal is distinctive as both companies are under the Blackstone umbrella. Lumina CloudInfra was created by Blackstone in 2022 as a standalone platform focused on hyperscale data centres in India, backed by substantial capital and managed by seasoned professionals in the local industry.

      AirTrunk, the largest independent data centre operator in Asia-Pacific, was acquired by Blackstone in December 2024 for A$24 billion, marking Blackstone’s largest transaction in the region to date. Instead of seeking a third-party buyer, Blackstone is merging its two data centre platforms into a single operational entity, providing AirTrunk with a pre-established entry point into India, complete with existing land holdings, customer connections, and a management team rich in local market knowledge.

      Following the acquisition, AirTrunk will have operations in six markets: Australia, Singapore, Japan, Malaysia, Hong Kong, and India, totaling over 3 gigawatts of operating and planned capacity spread across 20 campuses. Lumina's planned 600MW capacity will be distributed among India’s Tier-1 cities, commencing with Mumbai and Chennai before expanding to Pune, Delhi/NCR, and Hyderabad.

      Sujeet Deshpande, Lumina’s co-founder and CEO and formerly the head of Colt Data Center Services in India and leader of Reliance Jio Infocomm's integrated data centres, described the deal as a synergy of “local strength and global platforms.” Meanwhile, AirTrunk’s founder and CEO Robin Khuda characterized India as “one of the largest and fastest growing markets for hyperscale and AI infrastructure globally,” stating that the acquisition equips the company to “deliver the scale, speed, and performance our customers require as they grow across the APAC region.”

      Peng Wei Tan, Senior Managing Director of Real Estate at Blackstone, emphasized that the acquisition reinforces “one of Blackstone’s strongest conviction themes, digital infrastructure,” pointing out that as the world’s leading data centre investor, Blackstone is well-positioned to address the increasing demand in Asia-Pacific’s rapidly expanding economies.

      India’s data centre sector has attracted considerable international investment recently, as hyperscale cloud providers like AWS, Microsoft Azure, and Google Cloud accelerate their infrastructure development in the region. Blackstone had previously committed around $11 billion to Indian data centres, with Lumina being the main channel for these investments. Integrating Lumina into AirTrunk’s global operational framework allows those investments in India to leverage AirTrunk’s hyperscale customer network, global design and construction standards, and the full range of Blackstone’s financial resources, creating a consolidation of capabilities rather than merely a financial transaction.