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Norwegian oil fund to ‘buy big’ to meet real estate allocation target

Posted on 15 November 2011

The Norwegian Government Pension Fund Global will scout larger deals than previously in a bid to meet its 5% real estate allocation target, according to Øystein Sjølie, a spokesman at Norges Bank Investment Management, which manages the NOK3trn (€388bn) oil fund.

His comments follow the announcement that the fund would acquire a €290m three-asset prime Paris office portfolio from SEB ImmoInvest by the end of the year – its second deal via a joint venture with AXA Real Estate, which will manage both portfolios………………………………………Full Article: Source


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