BlackRock owns 80% of Texas project, Meta 20%
BlackRock, along with its infrastructure and private-credit arms, owns an 80% stake in the data-center project, the Journal reported. Meta Platforms holds the remaining 20% and will use the data centers.
JPMorgan Chase and Morgan Stanley are leading the debt sale to finance the project and are contacting other potential investors, the people said.
The structure closely mirrors the arrangement used for Meta’s Louisiana data center. In that deal, private-credit firm Blue Owl owned 80% of a joint venture while Meta owned 20%, and that entity issued a debt package that BlackRock and other investors purchased. BlackRock bought more than $3 billion of the bonds in that offering last year, according to the Journal. The Louisiana project’s $27 billion private-debt offering was the largest ever, the Journal reported.
BlackRock has committed tens of billions of dollars to data-center investments over the past year. The firm’s $40 billion deal to acquire Aligned Data Centers, announced in October 2025, was among the largest data-center acquisitions, the Journal reported.
Chief Executive Larry Fink’s acquisitions of private-market investment firms Global Infrastructure Partners and HPS Investment Partners over the past several years have positioned the $15 trillion asset manager to take a more active role in owning and operating assets itself, the Journal reported.