BlackRock leads $12 billion financing for Meta's new data center in Texas

Sina Finance
2026.07.20 16:19

BlackRock is leading the fundraising of at least $12 billion in debt for Meta's data center project in El Paso, Texas. BlackRock holds an 80% stake in the project through its infrastructure and private credit division, while Meta holds the remaining 20%. JPMorgan Chase and Morgan Stanley are responsible for underwriting. This move continues BlackRock's previous collaboration model in Meta's Louisiana data center project, demonstrating the asset management giant's ongoing commitment to increasing investments in physical infrastructure

The infrastructure sector and private credit department under the asset management giant lead this massive financing project.

BlackRock CEO Larry Fink attends the 2026 Milken Institute Global Conference.

Content Overview

BlackRock leads the bond issuance to raise at least $12 billion in debt for the El Paso large data center project backed by Meta.

According to insiders, the world's largest asset management company, BlackRock, is leading a bond issuance with a fundraising target of at least $12 billion for the construction of a massive data center campus in El Paso, Texas, supported by Meta.

BlackRock holds an 80% stake in the Texas data center project through its infrastructure business and private credit department; Meta, as the actual user of the data center, holds the remaining 20% stake.

Sources say that JPMorgan Chase and Morgan Stanley are underwriting this massive project bond while connecting with various potential investors to expand the funding pool.

Over the past year, BlackRock has continuously invested hundreds of billions of dollars into the data center sector, including a $40 billion acquisition of Aligned Data Centers. In recent years, BlackRock CEO Larry Fink has acquired two private equity firms, Global Infrastructure Partners (GIP) and HPS Investment Partners, allowing this asset management giant, which manages $15 trillion, to deeply engage in the ownership and operation of physical assets.

Previously, Meta's Louisiana data center construction was supported by a $27 billion private debt financing, marking the largest single private debt issuance in history, with BlackRock as the core investor. Earlier reports indicated that BlackRock subscribed over $3 billion in this bond last year.

The cooperation structure for the El Paso project replicates the collaboration model of Meta's Louisiana data center: at that time, the private credit company Blue Owl held an 80% stake in the joint venture, while Meta held 20%, and this joint venture entity issued large bonds, ultimately subscribed by institutions like BlackRock

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