25.06.2014 - World’s largest sovereign wealth fund to hike NYC holdings
Norway’s sovereign wealth fund, already a major investor in New York City real estate, is looking to grow its sizable property portfolio over the next three years. The world’s largest sovereign wealth fund plans to invest 1 percent of its overall portfolio, or about $9 billion, in the private real estate market in each of the next three years, the New York Times reported. Real estate now accounts for roughly 1.2 percent of the fund’s overall portfolio. But under Norway’s current government guidelines, that portion can be expanded to as much as 5 percent. The planned investment expansion will be concentrated in New York, Washington and Boston in the U.S., as well as Paris, the fund told the Times...............................................Full Article: Source
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