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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Oil fund invests in more real estate

Posted on 16 October 2012

Norway’s bulging sovereign wealth fund, more popularly known as the “oil fund,” announced more purchases in the international real estate market last week. After spending around NOK 6 billion (USD 1 billion) in Germany, the fund still has its sights set on the US next year.
The fund paid NOK 5.8 billion (EUR 784 million) for 50-percent stakes in two retail and office buildings in Germany, one on the prestigious boulevard Kurfürstendamm in Berlin and one in downtown Frankfurt. Norges Bank Investment Management (NBIM), which manages the fund officialy known as Norwegian Government Pension Fund Global, bought the buildings in partnership with AXA France Insurance Companies from the Royal Bank of Scotland………………………………………..Full Article: Source

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