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Norway sovereign wealth fund enters US property market

Posted on 12 February 2013

Norway’s Government Pension Fund, the world’s largest sovereign wealth fund, said Monday it had entered the US real estate market by investing $600 million (448 million euros) in five office properties.
The fund bought a 49.9 percent stake in five office buildings in Washington DC, New York and Boston after forming a joint venture with the seller, TIAA-CREF, a pension fund. The US fund will retain a 50.1 percent holding and will be responsible for managing the properties, it said………………………………………..Full Article: Source


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