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More firms are building data centres across SEA as demand for compute rises, but risks are lurking for investors.

The alternative asset manager is backing a South Korean motion-control technology provider at a reported valuation of $676m; Blackstone has also appointed former KKR executive Ami Momaya as its first dedicated infrastructure hire in Asia Pacific.

The sustainability linked financing covers greenfield and operational assets across Australia, Hong Kong, Malaysia and Singapore, and involved a consortium of 60 banks. The financing comes after Blackstone and CPPIB's acquisition of the group last year.

The deal for the Apac data centre firm, if completed, would be Blackstone’s largest investment in the region; Macquarie Asset Management and PSP Investments are among the sellers.

The Australian data centre provider has refinanced its SLL to support social impact investments and its rapid expansion across the region.