Norway’s $840 billion sovereign wealth fund named Karsten Kallevig as the head of its new real estate group, formed this summer to expand the fund’s real estate footprint worldwide. Kallevig joined Norges Bank Investment Management, a division of Norway’s central bank that manages the country’s substantial oil wealth, in 2010 and helped Norges amass an $18 billion real estate portfolio.
In New York City, Norges is in contract to partner on Trinity Real Estate’s 11-building Hudson Square portfolio, in a deal that values the real estate at $3.55 billion. Norges will pay $1.56 billion for a 44 percent share in a 75-year ownership stake………………………………………..Full Article: Source