Brookfield Asset Management Ltd. is investing up to $9 billion in a South Korean data center expansion, partnering with Nvidia Corp. and Naver Corp. Naver will utilize Nvidia’s technology to enhance its GAK Sejong hyperscale data center’s power capacity from 55 to 200 megawatts by 2028. This facility aims to support AI innovation in Korea and the U.S. Brookfield oversees $100 billion in assets across the AI infrastructure sector.
Additionally, Brookfield recently acquired Aypa Power, a battery storage developer, for $7 billion, expanding its renewable energy portfolio with projects in the U.S. and Canada.
In another development, Canada’s Pension Plan Investment Board is acquiring a $1 billion majority stake in Tarchon, a subsea energy project linking the UK and Germany, with Elia Group securing a 25% stake via its WindGrid subsidiary.
Lastly, Navacord Corp. has partnered with Steers Insurance Ltd., marking its seventh transaction of the year and establishing a foothold in Newfoundland and Labrador. Terms of the partnership were not disclosed.
