Norway’s $2.1 Trillion Wealth Fund Shuns Data Centers

Data centers are notably absent from the shopping list for the world’s largest sovereign wealth fund as it unveils a new strategy following a period of disappointing real estate results.

Norges Bank Investment Management, Norway’s $2.1 trillion fund, is shaking up its property division as part of its next three-year strategy, published on Wednesday. However, data centers — one of the most hyped areas in real estate — won’t form a major part of the new approach, Alexander Knapp, head of global real estate, said in an interview with Bloomberg.