09.10.2013 - Norway takes Manhattan
Early last month, Norwayís sovereign wealth fund announced it would invest $684 million in a 45 percent stake of Boston Propertiesís Times Square Tower. No small achievement, the investment is the Norwegian Government Pension Fundís second real estate play in the United States in a span of just eight months as it seeks to rev up its portfolio to as much as 5 percent of total assets under management. The uptick in activity, prompted in part by the fundís desire to reduce its exposure to the bond market, is a welcome development for real estateís largest institutional players now seeking to realize gains on investments made during the past decade and to deploy capital in other sectors of the market...............................................Full Article: Source
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