Schwarzman: “Chad is a generational entrepreneur and represents one of the most incredible success stories we have had the opportunity to partner with at Blackstone.”
Most CRE folks know the big names from NYC.
But few know the guy from Overland Park who built a $60B data center platform from scratch.
---- The QTS story ----
From junkyard to megawatt:
-- In high school, Chad Williams ran the family salvage yard when his dad got sick
-- Later became CEO of a family platform spanning CRE, design-build, interiors, and leasing
-- Bought a 35K SF data center in Kansas in 2003
-- Launched QTS in 2005 by acquiring a 960K SF "mega" facility in Atlanta
-- Focused on scalable, enterprise-grade infrastructure
-- Built a portfolio of 25+ data centers totaling over 6 million SF
An overlooked REIT:
-- Took QTS public in 2013, raising $260M
-- Analysts saw high G&A and capital intensity but missed the big story
-- QTS was becoming a preferred provider for hyperscalers and government agencies
-- By 2021, QTS had an $8B market cap and Blackstone came calling
A $10B privatization:
-- Blackstone acquired QTS in 2021 for $10B, a 20% premium
-- Williams owned ~11%, making his stake worth ~$1B
-- Rather than exit, he stayed on as CEO for four more years
-- He grew the development pipeline grew from $1B to over $25B
Exit and next steps:
-- Williams stepped down in April 2025, passing the reins to longtime deputies
-- Jon Gray called him “a true pioneer” who built “one of the most successful investments in Blackstone’s history”
-- Now, Chad and his wife Jeannie (QTS co-founder) are launching Quality Growth Companies, a family platform focused on infrastructure, logistics, and energy.
-- In Chad’s words: “Not starting over. Starting forward.”
---- Final thoughts ----
-- Not every great real estate entrepreneur comes from a private equity firm or has a finance degree.
-- This husband-and-wife team from Kansas created an industry-leading, global business and still likely have many more turns ahead of them.
-- Can their story be replicated? Perhaps not in data centers, but this won't be the last success story told about someone who developed expertise, identified a megatrend where that expertise was exceptionally valuable, then doubled down on it.
Mr. and Mrs. Williams, thanks for charting such an inspirational path!
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