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NBIM and MetLife JV Acquire 425 Market and DC Office

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Karsten Kallevig - CIO Real Estate, NBIM - Photo Credit: NBIM

Karsten Kallevig – CIO Real Estate, NBIM – Photo Credit: NBIM

Metlife, Inc. and Norges Bank Investment Management (NBIM) through their joint venture purchased two Class A office buildings in Washington, DC and San Francisco. The Norwegian sovereign wealth fund has made major inroads in U.S. core real estate. The San Francisco office property is Norway’s first real estate investment on the West Coast. The joint venture is 47.5% NBIM and 52.5% Metlife. The net purchase price for the San Francisco and DC properties for 47.5% for NBIM is US$ 480 million. This brings the gross value of the two assets to around US$ 1 billion.

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PGGM Executed its Inaugural Cleared Securities Lending Trade

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Service providers are keen on getting more beneficial owners to participate in the cleared securities lending market. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Altitude Infrastructure Gets Financing on Haute-Garonne Network Project

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Altitude Infrastructure SAS inked a 25-year concession agreement and closed a debt financing package for the deployment and maintenance of an ultra-high-speed broadband network in Haute-Garonne. Haute-Garonne is a department in the south of France.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Guggenheim Partners Agrees to Acquire Millstein & Co.

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On July 11, 2018, Guggenheim Partners inked a deal to acquire New York-based Millstein & Co., L.P., an advisory firm formed by Jim Millstein. Millstein will become co-Chairman of Guggenheim’s securities business. Millstein & Co. will become part of Guggenheim Securities, the investment banking division of the company. Ronen Bojmel will lead the combined Guggenheim restructuring team.

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