Black Rock takes the lead in securing US$12 billion in financing for Meta’s new data center in Texas
The asset management giant’s infrastructure sector and private equity credit department led this giant financing project BlackRock CEO Larry Fink attends the 2026 Milken Institute Global Summit Led a bond issuance to raise at least $12 billion in debt financing for a large-scale data center project in El Paso backed by Meta. According to people familiar with the matter, BlackRock, the world's largest asset management company, is leading a bond issuance to raise a minimum of US$12 billion to build a Meta-backed ultra-large-scale data center park in El Paso, Texas. BlackRock holds an 80% stake in the Texas data center project through its infrastructure business and private equity credit unit; Meta, as the actual user of the data center, holds the remaining 20% stake. Responsible for underwriting this huge project debt, and is also connecting with various potential investors to expand the capital pool. Over the past year, BlackRock has continued to invest tens of billions of dollars in the data center field, including a $40 billion acquisition of Aligned Data Center Company. In recent years, BlackRock CEO Larry Fink has successively acquired two private equity institutions, Global Infrastructure Partners (GIP) and HPS Investment Partners. This asset management giant with a management scale of US$15 trillion has since deeply penetrated into the self-sustaining and operating business of physical assets. Previously, the construction of Meta's data center in Louisiana was supported by a private debt financing of US$27 billion, which was the largest single private debt issuance in history. BlackRock was the core investor of the project. Earlier reports showed that BlackRock subscribed for more than $3 billion in the bond last year. The cooperation structure of this El Paso project replicates the cooperation model of Meta's Louisiana data center: at that time, private equity credit company Blue Owl held 80% of the equity of the joint venture, and Meta held 20%. The joint venture entity then issued large bonds, which were eventually subscribed by BlackRock and other institutions.