Meta Platforms has forged a joint venture partnership with Blue Owl Capital to develop and own the Hyperion data center campus in Richland Parish, La.
Meta, which will retain a 20 percent ownership in the joint venture, will provide construction management and property management services for the project, and funds managed by Blue Owl Capital will own an 80 percent interest in the joint venture.
The parties have committed to fund their respective pro rata share of the approximately $27 billion in total development costs for the buildings and long-lived power, cooling and connectivity infrastructure at the campus.
In connection with the creation of the joint venture, Meta contributed certain land and construction-in-progress assets relating to the campus development, which were previously classified as held-for-sale. The funds managed by Blue Owl Capital made a cash contribution of approximately $7 billion to the joint venture, and Meta received a one-time distri
