Vesper Acquires Majority Stake in Norwegian AI Data Center Operator Terakraft

Vesper Next Generation Infrastructure Fund I SCSp, an investment fund, has signed a binding agreement to acquire and invest in the share capital of Yfoss AS, a company currently wholly owned by Terakraft AS, thereby becoming its majority shareholder.

Founded in 2021, Terakraft is a Norwegian data center operator specializing in infrastructure for artificial intelligence and high-performance computing (HPC). The company manages a data center that, as part of the transaction, will be contributed to Yfoss AS. Following a comprehensive restructuring and upgrade program, the data center will offer a capacity of 10 MW, with potential expansion up to an additional 60 MW.

Once completed, the facility will be one of the most sustainable and cost-efficient AI data centers in Europe: Terakraft’s advanced design achieves best-in-class energy efficiency for the benefit of its clients, aligning with the highest standards of computing sustainability and meeting both technical and ESG requirements for AI infrastructure.

Greenberg Traurig assisted Vesper with a team including partners Riccardo Agostinelli and Daniele Migliarucci (finance aspects), partner Alessandra Boffa together with Victoria Quarzo (corporate matters), and partner Paolo Bolis with Davide Mollica (real estate matters), as well as Schjødt law firm for due diligence and Norwegian law aspects.

Osborne Clarke advised Terakraft and the key managers with a team led by partner Andrea Pinto, Head of Financial Services, and partner Luca Saraceni, a recent addition strengthening the private equity practice in Italy. Pinto handled finance aspects alongside associate Attilio Valguarnera, while Saraceni provided assistance on corporate matters together with associate Alessandra Mioni.

Advokatfirma Tofte Hald AS advised Terakraft on Norwegian law issues.