Latham Represents Coatue in Connection With Blackstone and Coatue’s US$10 Billion Debt Financing for Firmus Technologies to Scale Energy-Efficient AI Infrastructure

Latham & Watkins represented Coatue, a global technology investment platform, in connection with Blackstone and Coatue’s US$10 billion debt financing facility for AI infrastructure company Firmus Technologies. The financing will fund the next phase of Project Southgate, the company’s initiative to develop AI training and inference infrastructure across Australia, which is expected to scale up to 1.6 gigawatts of infrastructure through 2028, to help meet accelerating global demand for high‑performance compute. The transaction marks one of the largest private debt financings in Australian history.

Latham & Watkins LLP represented Coatue in the financing with a team led by partners Tracey Zaccone, David Siegel, and Paul Bonewitz, with associates Matt DeSilva, Sylvia Zhang, Scarlett Zhou, and Nino Galdava. Advice was also provided on tax matters by partner Bora Bozkurt, with associate Michael Yu.