Connect with us

Karsten Kallevig Snags #3 on Public Investor 100-2015

Published

on

Karsten Kallevig

Karsten Kallevig

SWFI Staff has released the Public Investor 100. He ranks 3 out of 100 for the SWFI Public Investor 100 – 2015.

To see the full rankings

Norway has a lot of dough to spend when it comes to overseas institutional real estate. MIT-educated Kallevig has a big job, being the Norwegian sovereign wealth allocator of a US$ 40 billion exposure to institutional real estate. Kallevig contributes an abundance of Asian and European real estate experience to Norway. He had beginnings working at Goldman Sachs and working for Soros Real Estate Partners, an entity associated with George Soros. He also spent years in Tokyo, working for Grove International Partners.

A downhill skier, Kallevig has mustered up resources, building in-house public investor real estate investment teams so large that they rival the large Canadian pensions and Gulf wealth funds. Under his watch, Norges Bank Investment Management (NBIM) has hired accountants and brought on a number of former real estate bankers. Emphasizing a mantra of structure and focus, Kallevig started with low-hanging fruit: London real estate. NBIM acquired interests in properties on London’s Regent Street, properties in Paris, worked a deal with Prologis (one of the biggest warehouse investors in the world), participated in JVs with Metlife, TIAA-CREF and so on. Despite this, finding suitable investments has been challenging for Kallevig and his team. REITs, pensions, real estate funds, Chinese insurance companies, wealth funds and other investors are vying for well-leased office buildings in core cities. Kallevig and his team have been crafty, hitting up life insurance companies and getting the inside deal on core properties.

Kallevig is on a long journey, but he has the backing from management. For fiscal year 2014, real estate investments generated a 10.4% return, the top performing asset class for Norway’s wealth fund.

SWFI First Read, June 21, 2018

Published

on

PSP Investments Nears Deal on Azelis

PSP Investments and EQT Partners (through fund EQT VIII) are in exclusive talks to acquire Belgium-based Azelis S.A. from funds managed by Apax Partners. Formed in 2001, Azelis is a specialty chemicals and food ingredients distributor. The transaction is subject to regulatory approvals.

Oxford Properties Wins Rights on Barangaroo Office Development

Melbourne-based Grocon Pty Ltd selected Oxford Properties, the real estate unit of OMERS, as a preferred partner for it’s a A$ 2 billion, 5.2-hectare Barangaroo Central project development. This is an office tower development. Oxford Properties essentially won the rights toward the project (rumored at a price of A$ 100 million), freeing the developer from a high-cost finance deal with Maxcap, a lender.

Investment Management Corporation of Ontario Selects Jean Michel as CIO

The Investment Management Corporation of Ontario named Jean Michel as chief investment officer. This role is effective July 3, 2018. Michel was executive vice president, advisory services to depositors and strategic analysis, at Caisse de Depot et Placement du Quebec (CDPQ).

Wil Warren Named President of Lexington Partners

[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Large Public Asset Owners Commit to Goodman Brazil Logistics Partnership

Published

on

Canada Pension Plan Investment Board (CPPIB) unveiled plans to commit 500 million BRL (C$ 175 million) in equity for a 20% interest in the newly established Goodman Brazil Logistics Partnership to invest in prime logistics and industrial assets in the key gateway cities of São Paulo and Rio de Janeiro. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Mubadala Supports Two European Aquaculture Transactions

Published

on

Mubadala Investment Company is keen on growing exposure to agribusinesses whether in farming or aquaculture. With money from Mubadala and AMERRA Capital Management LLC, Andromeda Group acquired Nireus SA (at 74.34% stake) and Selonda SA at (79.62% stake), two European aquaculture companies that focus on sea bream and sea bass. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

Continue Reading

Popular

© 2008-2018 Sovereign Wealth Fund Institute. All Rights Reserved. Sovereign Wealth Fund Institute ® and SWFI® are registered trademarks of the Sovereign Wealth Fund Institute. Other third-party content, logos and trademarks are owned by their perspective entities and used for informational purposes only. No affiliation or endorsement, express or implied, is provided by their use. All material subject to strictly enforced copyright laws. Registration on or use of this site constitutes acceptance of our terms of use agreement which includes our privacy policy. Sovereign Wealth Fund Institute (SWFI) is a global organization designed to study sovereign wealth funds, pensions, endowments, superannuation funds, family offices, central banks and other long-term institutional investors in the areas of investing, asset allocation, risk, governance, economics, policy, trade and other relevant issues. SWFI facilitates sovereign fund, pension, endowment, superannuation fund and central bank events around the world. SWFI is a minority-owned organization.