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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

MetLife, Norway fund bets reach $1.7 bln with new deals

Posted on 14 January 2014

MetLife Inc., the largest U.S. life insurer, expanded its real estate joint venture with Norway’s sovereign wealth fund to $1.7 billion with investments in San Francisco and Washington.
Norges Bank Investment Management and MetLife purchased a 12-story office at 555 12th St. in Northwest Washington, according to a statement today. The Norway fund, which oversees about $830 billion, also purchased 47.5 percent of a San Francisco property at 425 Market St. from the insurer. The gross value of the two buildings is about $1 billion, according to a separate statement from Norway’s fund………………………………………..Full Article: Source


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