State of Michigan Retirement System is co-investing in Nordic data centre developer Bulk Infrastructure alongside a BGO.
IPE Real Asset understands that the pension fund has approved a NOK284.5m (€24.2m) commitment to BGO Europe IV King II/King III Co-Investment, a vehicle that invests alongside the BGO Europe IV fund.
BGO raised €2bn at last month’s close for BGO Europe IV, its fourth European value-add real estate fund.
As of the first half of the year, the State of Michigan held an investment valued at $28.2m in BGO Europe IV. The pension fund had an outstanding commitment of $81.9m for the fund, which had not yet been called by the manager.
As reported in June this year, Bulk Infrastructure secured a €350m equity investment from real estate investment management firm BGO.
Bulk Infrastructure, which intends to invest over €1bn of new capex by 2026 to grow its portfolio, said at the time that the investment brings BGO’s total equity investment in the company since 2020 to over €640m.
State of Michigan currently holds an investment valued at $28.2m (€25.5m) in BGO Europe IV, through the end of June 2024. The pension fund has an outstanding commitment of $81.9m for the fund, with this capital yet to be called by the manager.
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