t’s official. Norway’s sovereign wealth fund has opened its first official office in Tokyo. The Tokyo office will focus exclusively on real estate, initially targeting the property markets of Singapore and Tokyo. The wealth fund began allocating to unlisted real estate in 2011 and plans to continue a similar strategy in Asia. For example, Norway’s SWF will target office buildings in selected central areas of Tokyo and other core Asian cities.
The Tokyo office will start with three local staff. Norges Bank Investment Management (NBIM) has other Asian offices in Singapore and Shanghai.
Karsten Kallevig, CIO Real Estate of NBIM, in a press release stated, “Having a separate real estate office in Tokyo will give us that important local presence and help us build the best possible property portfolio in this market.”
Karsten Kallevig was ranked #3 on SWFI’s Public Investor 100 – 2015.
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