CHICAGO–(BUSINESS WIRE)–GEM Realty Capital (“GEM”) is pleased to announce its equity investment in Aligned Data Centers will be purchased as part of the acquisition by a consortium led by Artificial Intelligence Infrastructure Partnership (“AIP”), MGX Fund Management Limited (“MGX”), and BlackRock’s Global Infrastructure Partners (“GIP”) (collectively, the “Consortium”). The transaction values Aligned at $40 billion.
“This transaction represents a tremendous outcome for GEM and our investors,” said Brad Caldwell, co-Chief Investment Officer, Public Markets of GEM Realty Capital. “We identified Aligned as a highly desirable operator in a rapidly growing sector, and we are proud to have partnered with Aligned’s ownership group during a period of exceptional growth and execution.”
GEM invested in Aligned in January 2025 through its GEM Realty Tactical Opportunities (GRTO) strategy, which targets non-controlling, illiquid stakes in real estate industry aggregators and disruptors. GRTO focuses on sectors benefiting from structural tailwinds and secular growth trends, including digital infrastructure. The investment in Aligned reflects GRTO’s ability to capitalize on opportunities where real estate fundamentals intersect with mission-critical technology.
GEM’s Digital Infrastructure Strategy
GEM believes in the transformative impact of growing technological innovations and the convergence of real estate and digital infrastructure. The strategy emphasizes investments in data centers and fiber networks, combining strong real estate fundamentals with essential technology applications in an effort to deliver durable cash flows and long-term growth.
“We seek to partner with leading operators who can scale efficiently and deliver reliable solutions to meet the exponential demand for data. Aligned exemplified these qualities, and this outcome reinforces our conviction in the sector,” added Caldwell.
Aligned’s robust development pipeline and demonstrated execution capabilities were key factors in GEM’s decision to invest. This investment underscores GEM’s commitment to identifying transformative opportunities in sectors benefiting from long-term secular growth trends.
About GEM Realty Capital
GEM Realty Capital is a strategically integrated real estate investment firm with approximately $6 billion in AUM. Founded in 1994 and headquartered in Chicago, GEM tactically invests across all four quadrants of U.S. real estate: public, private, debt and equity. Grounded in fundamental real estate analysis, GEM seeks to leverage its extensive experience to anticipate market shifts, navigate periods of economic uncertainty, and identify compelling investment opportunities. Visit https://gemrc.com/.
Contacts
Eva Wassermann, Senior Managing Director, Acquisitions
(312) 915-5521
[email protected]
