Norway: BGO invests €350 million into Norway's Bulk

Jun 07, 2024 | Posted by Abdul-Rahman Oladimeji

Real estate investment management firm BentallGreenOak has invested another €350 million ($380m) into Nordic data center operator Bulk which will be used to ‘accelerate Bulk’s growth plans.’

“The latest investment by BGO will fuel our ambitions to shift the gravity for global and European large data loads to the cold and sustainable North,” said Peder Naerboe, founder and executive chairman of Bulk. “BGO has been a reliable shareholder and partner to us since their first investment in 2020 enhancing our ability to deliver on our scalable sustainable Nordic data center platform.”

John Carrafiell, co-CEO of BGO added: “BGO in Europe has long been at the forefront of modern, infrastructure-like industrial real estate investing, and an early mover in the sustainable data center sector. Today’s announcement with Bulk Infrastructure reaffirms our steadfast commitment to pursuing growth in data infrastructure that will play a critical role in serving the industries of tomorrow. Going forward, BGO will continue to support Bulk and its management team with its expertise and capital to enable Bulk to realize the generational opportunities we see today for AI-ready, GPU-based data centers.”