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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments, Market

Norway Oil Fund in EUR2.4bln Prologis JV; targets $11bln at US property

Posted on 07 January 2013

Norway has granted permission for its giant €508bn pension fund to invest in property outside Europe from this year. The news came days after its manager, Norges Bank Investment Management, signed a €2.4bn joint venture with US-based Prologis to invest in European industrial property - and followed an announcement that it is also targeting $11bn at the US.
Norwegian Finance Minister Sigbjoern Johnsen announced the widened global real estate mandate in late December. “By spreading our investments we contribute to a continued secure and long-term management of the fund,” he said in a statement following establishment of the nation’s 2013 budget………………………………………..Full Article: Source


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