05:45 AM EDT, 10/22/2025 (MT Newswires) -- Meta Platforms ( META ) said Tuesday it formed a joint venture with funds managed by Blue Owl Capital to develop and own the Hyperion data center campus in Richland Parish, Louisiana.

The parties committed to fund their pro rata share of about $27 billion in development costs, Blue Owl funds contributed about $7 billion at formation, and Meta received about $3 billion as a one-time distribution, the company said.

Funds managed by Blue Owl will own 80% of the venture, and Meta will hold 20%, with Meta providing construction and property management services, it said.

Meta contributed land and construction in progress assets tied to the campus and entered operating leases for all facilities with a four-year initial term and extension options, Meta said.

The company also said that it provided a residual value guarantee for the first 16 years of operations with a capped payment if certain conditions are met after a non-renewal or termination.