Meta - Joint Venture with Funds Managed by Blue Owl Capital to Develop Hyperion Data Center

Meta announces joint venture with funds managed by Blue Owl Capital to finance the development and conduct the operations of the Hyperion data center campus in Richland Parish, Louisiana

MENLO PARK, Calif., Oct. 21, 2025 /PRNewswire/ -- Meta Platforms, Inc. (NASDAQ: META) and funds managed by Blue Owl Capital entered into a joint venture agreement which will develop and own the Hyperion data center campus. Meta will provide construction management and property management services for the project.

This innovative partnership was designed to support the speed and flexibility required for Meta's data center projects and long-term AI ambitions. Meta has 15 years of experience developing, constructing and operating world class data center facilities. Blue Owl Capital complements this joint venture with its ability to deliver substantial capital at scale, along with deep expertise in digital infrastructure investment—enabling the rapid execution of mission-critical data center projects for hyperscalers.

Funds managed by Blue Owl Capital will own an 80% interest in the joint venture, while Meta will retain the remaining 20% ownership. 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 distribution from the joint venture in the amount of approximately $3 billion.

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