BGO has successfully raised $800 million for its new U.S. industrial strategies series, including $260 million in co-investment capital earmarked for data center developments. Partnering with NorthPoint Development, BGO plans to finance eight industrial projects across the U.S., three of which will feature up to 3.2 million square feet of data centers. These sites are “power-ready,” with BGO in advanced stages of securing 800 MW of aggregate capacity. The fund’s nine investors are primarily U.S.-based pensions, insurers, and high-net-worth individuals, alongside two Canadian and one Swiss institution contributing to the data-center co-investment.
According to co-CEO John Carrafiell, the strategy evolved from predictive data analysis initiated during the COVID-19 pandemic to identify high-potential logistics sites. BGO later recognized that land with strong power access held additional upside for data center use. While locations were not disclosed, the selected sites sit near substations and robust grids, giving the projects a competitive edge amid a tightening power supply environment. Once completed, the combined logistics and data center portfolio is projected to reach $2.43 billion in gross asset value, underscoring the growing investor appetite for assets supporting AI and cloud computing infrastructure.