Nordic fund manager and property owner Areim has completed a capital raise of €450 million for its Nordic data centre fund, Areim DC Fund, which will facilitate the expansion of its sustainable data centre network.
The Areim DC Fund is the owner of EcoDataCenter, which operates data centres powered by renewable energy in the Nordic region.
The additional capital brings the total raised capital for the fund to €900 million, with Areim noting that the fundraising round was oversubscribed and attracted both Nordic and international institutional investors.
Over the past two years, Areim has raised more than €1.2 billion in equity, debt, and bond capital for its data centre platform.
‘Strong support’
“The continuous strong support we have received from both existing and new investors is a testament to the strategy of our dedicated data centre fund,” commented Henrik Brinck Landelius, Areim CEO.
“The substantial interest in the Areim DC Fund and EcoDataCenter underlines the demand and attractiveness of the Nordic market for data centres. There is a lot of activity in this space, and the additional investments are important for growing the platform further. I would also like to show my appreciation to the team for their successful fundraising.”
EcoDataCenter
Areim took a majority stake in EcoDataCenter in 2018 and became its full owner in 2023 through the Areim DC Fund. It noted that the raised capital will be used to continue expanding EcoDataCenter.
Areim founder and chairman of the EcoDataCenter business, Leif Andersson, added that when the company first decided to invest in EcoDataCenter, it “saw the inherent potential in sustainable data centres to meet the rising demand for digital infrastructure. A lot has happened since, and data centres now form fundamental building blocks of this infrastructure, regardless of the data loads’ origins and use.
“We look forward to continuing to lead the development of data centres in the Nordics as the demand for digitalisation and AI keeps rising.”
Legal assistance related to the capital raise was provided by Andulf Advokat. Read more here.
