NAB Finances BlackRock’s $30 Billion AI Infrastructure Push

National Australia Bank supplies subscription credit line for AIP fund group

While private equity funds routinely borrow against the capital commitments they receive from investors, this deal may be bigger than most. National Australia Bank and MUFG Bank are supplying a subscription credit facility to the AI investment consortium formed by BlackRock’s Global Infrastructure Partners, Microsoft and MGX that is raising a $30 billion private equity war chest to invest in data centers and their energy supply. The AI partnership obtained the financing as it and other members of an investment group completed the acquisition of Aligned Data Centers late last month at an estimated enterprise value of $40 billion.

AI Infrastructure Partnership

• Lender: National Australia Bank Ltd.

• Borrower: Funds affiliated with the AI Infrastructure Partnership

• Loan Type: Subscription credit line

• Collateral: Investor capital commitments

BlackRock Inc. and other members of the AI Infrastructure Partnership secured the credit line for AIP Fund-X LP, a milestone in their plan to raise some $30 billion for the development of artificial intelligence.