The Carlyle Group Data Center Capex and Sites
Carlyle reported AUM of $477 billion with 2025 distributable earnings of approximately $1.7 billion on $4.8 billion of revenue. It is one of two sponsors under the US Army's hyperscale data center initiative, developing approximately 1,384 acres at Fort Bliss, El Paso, Texas with initial operating capability in FY2027 and a stated path to 3GW by 2029. Its Copia Power platform, created in 2021, was agreed to be sold to EQT at approximately $2.6 billion, more than five times the original investment.
Reported and guided spending
Audited, reported and guided figures as the filing or release states them. Reported lines are what was spent, and guidance is what management expects. They sit side by side and are never combined.
| Period | Kind | Amount | As stated | Sources |
|---|---|---|---|---|
| 2025-2026 disclosure | aum | ~$477B | AUM of $477 billion; 2025 distributable earnings of approximately $1.7 billion on $4.8 billion of revenue |
|
| cumulative into Copia | reported | ~$2.0B | roughly $2 billion invested in Copia's 20,000-acre site west of Phoenix with 1.5GW of solar, in a market Carlyle sizes at $800-900 billion |
Financing transactions
Transactions that name The Carlyle Group as a party or attach to one of its named sites. Amounts are as stated, and overlapping commitments are never summed.
| Parties | Instrument | Amount | Date | Site | Sources |
|---|---|---|---|---|---|
CoreWeave + Blackstone + Magnetar + Coatue + Carlyle + CDPQ + BlackRock + DigitalBridge Blackstone-led delayed-draw term loan with Magnetar, Coatue, Carlyle, CDPQ, BlackRock and DigitalBridge participating. |
debt facility | $7.5B | May 17, 2024 |
n.a. |
|
Carlyle (seller) + EQT Carlyle agreed to sell its power and AI infrastructure platform Copia Power to EQT. |
acquisition | ≥$2.6B | completion expected by the end of 2026 |
Copia Power site west of Phoenix (AZ) |
|
Bharti Airtel + Carlyle Carlyle participated in the fund raise for Bharti Airtel's Nxtra data center business. |
equity raise | $1.0B | announced March 30, 2026 |
n.a. |
Sourced facts on The Carlyle Group
- Copia Power holds more than 20 gigawatts of thermal and renewable generation opportunities, 9 gigawatts of data center opportunities across its campus portfolio, and has brought 2.6 gigawatts into operation or construction; its broader pipeline includes over 25 GW of solar and storage and about 7 GW of natural gas.
- Carlyle participated in a $1 billion fund raise for Bharti Airtel's Nxtra data center business in India.
- Fort Bliss water and electricity use has drawn local scrutiny; no formal pause disclosed.
Sources for The Carlyle Group
Every source cited on this page, once each.
- carlyle.comCarlyle
- irei.comIREI
- army.milU.S. Army
- elpasomatters.orgEl Paso Matters
- datacenterdynamics.comDCD
- investors.coreweave.comCoreWeave IR
- blackstone.comBlackstone
- datacenters.economictimes.indiatimes.comET DataCenters
- reuters.comReuters
More in the Index
Capital figures come from the Capital Atlas, refreshed every Tuesday, Thursday and Saturday. Site commitments overlap reported capital expenditure and overlap one another, so each figure appears as its source states it and none are added into a single deployment number. Informational, not investment advice.
Seven references, one system
Capital, delay, policy, water, grid, permits and scarcity are one system seen from seven sides. Each reference is primary-sourced, refreshed on a schedule, and links into the others, so a project can be followed from the money committed to the docket that stopped it.