Alternative capital has become the new backbone of the modern economy. At a time when government budgets and the banking sector are hitting limits, it is funds that are taking centre stage. A new chapter in this trend began when the firm partnered with Meta Platforms to fund a giant AI data center in Louisiana - a project that is rewriting the history of digital infrastructure with its size.

The deal, valued at more than $30 billion, represents not only the largest private equity transaction in AI infrastructure, but also a strategic breakthrough. It marks the first time a tech giant is handing over majority ownership of a key project to an alternative capital manager. Meta will retain only 20%, with Blue Owl acquiring the rest. The move confirms that the line between finance and technology is definitely blurring.

The Hyperion project, spanning four million square feet, will be the largest data centre Meta has ever built. It will power advanced artificial intelligence models, data…