Norway's Government Pension Fund Global, a sovereign wealth fund, on Thursday made its first investment as part of a new strategy to reduce its exposure to inflation risk.
The Norges Bank, a division of which - Norges Bank Investment Management (NBIM) - manages the sovereign wealth fund, said it agreed to take a 25% stake in the Crown Estate's Regent Street properties in London on a 150-year lease after the Norwegian government gave the central bank permission to invest in the new asset class.
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