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Sovereign Wealth Funds Briefing - Categorized | Alternative Investments

Norway oil fund agrees on $1 bln property deal with Axa

Posted on 06 July 2011

Norway’s sovereign wealth fund agreed to buy 50 percent in seven properties in Paris for 702 million euros ($1 billion) from Axa SA, as part of a plan to add at least $25 billion in real estate assets to boost returns.
The $570 billion Government Pension Fund Global will form a joint venture with Axa Real Estate, a unit of the Paris-based insurance company, to own 156,000 square meters (1.68 million square feet) of mainly office properties, the Oslo-based investor said today. The fund expects the transaction to close in the third quarter………………………………………Full Article: Source


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