07.01.2013 - Norway Oil Fund in EUR2.4bln Prologis JV; targets $11bln at US property
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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