On August 19, Blackstone Group LP rose 3.26% in regular trading, trading at $144.92/share, with turnover of $61.47 million. The rally was driven by news that Blackstone-backed QTS Realty Trust units commenced a high-grade bond sale to help fund construction of a data center tied to Microsoft.

The initial price talk on the five-year notes is for a yield of roughly 7.63%, while the financing is expected to be approximately $3.9 billion — around $1 billion more than the size initially floated to investors. Citigroup, Goldman Sachs, JPMorgan Chase, and Morgan Stanley are running the sale. The larger-than-expected deal size signals strong investor demand for Blackstone's AI data center assets.

The positive reception comes after Blackstone faced recent headwinds, including the potential shelving of a $3 billion collateralized fund obligation plan due to difficulty finding equity tranche buyers, and a 94% profit decline at its listed private credit fund. The successful QTS bond launch appears to restore market confidence in Blackstone's core AI infrastructure strategy.

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