Blackstone’s AirTrunk Is Said to Pick Banks for Singapore REIT IPO

AirTrunk, the data center operator Blackstone Inc. bought in 2024, has picked banks for a real estate investment trust listing in Singapore that may raise about $1.5 billion, according to people familiar with the matter.

Citigroup Inc., DBS Group Holdings Ltd. and Jefferies Financial Group Inc. will help the company to prepare for the initial public offering, the people said, asking not to be identified because the information is private. The IPO might take place as soon as this year, they said.