Norway’s SWF adds $340m of property to portfolio

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The Norwegian Government Pension Fund Global, Norway's international sovereign wealth fund, today (July 5) agreed to purchase 50% stakes in five properties in Paris, France, for a total of €275 million ($340 million). The purchases are part of an effort by the fund to diversify its portfolio, following a mandate from the Norwegian government to increase the share of assets devoted to real estate to 5%. A spokeswoman for the Norges Bank, which manages the fund through its investment arm,