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​norway’s Oil Fund To Axe Real Estate Arm And Reduce Target Allocation | News | Ipe Ra

by realassets.ipe.com posted 1week ago 19 views
NBREM to be absorbed by NBIM as NOK8.6trn fund reins in property ambitions. : Unlisted real estate is set to play a smaller role for Norway’s sovereign wealth fund than envisioned previously, after Norges Bank Investment Management (NBIM) announced it would axe its separate property arm launched four and a half years ago. NBIM, which manages the NOK8.6trn (€883bn) Government Pension Fund Global, has reduced its target real estate allocation from 7% to 3-5%. It is also discontinuing Norges Bank Real Estate Management (NBREM) as a separate organisational unit, and plans to combine unlisted and listed real estate investments.

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