Norway’s sovereign fund acquires its first Asian real estate

tokyo
Tokyo

Norway’s sovereign wealth fund has finalised today (December 7) its first real-estate investment in Asia. The fund has acquired interests in five properties in Tokyo.

The deal comes weeks after the manager of the fund, Norges Bank, recommended to the government the removal of equity investments in the oil and natural gas sector from its benchmark index.

The Government Pension Fund Global will pay ¥92.75 billion ($823.4 million) for a 70% interest in the properties in a joint venture with

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