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NBIM Sells Interest in SZ Tower

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Norges Bank Real Estate Management, the real estate unit of Norges Bank Investment Management, has a partnership with AXA France. The partnership signed a deal on February 20, 2018, to sell the SZ Tower. The SZ Tower is located on Hultschiner Strasse 8 in Munich, Germany. Norges Bank Real Estate Management will receive €122.1 million for its 50% ownership interest. The property was acquired by the partnership in November 2013.

The buyer of the tower is a subsidiary of Cologne-based Art-Invest Real Estate GmbH & Co.

SZ Tower comprises 62,200 square metres of lettable space.

Trump Goes Across the Political Aisle to Nominate Nellie Liang to Federal Reserve Board

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U.S. President Trump nominated Nellie Liang to the Federal Reserve Board of Governors. She is a long-time staff member of the Federal Reserve, joining in 1986 as a research economist. Liang must still be confirmed by the U.S. Senate pending the job post. She is a graduate of University of Notre Dame in 1979 and received her doctorate from the University of Maryland in 1986.

Ms. Liang is a registered Democrat.

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Ivanhoé Cambridge to Acquire Callahan Capital Properties

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Ivanhoé Cambridge, a unit of Caisse de dépôt et placement du Québec (CDPQ), signed a deal to acquire Callahan Capital Properties (CCP). Eastdil Secured advised on the transaction. CCP is Ivanhoé Cambridge’s investment partner of six years.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Manager of China’s Foreign Reserves Could be CalPERS Next CIO

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Numerous financial media outlets, including the Wall Street Journal (WSJ), are reporting that Ben Meng is in key position to become Chief Investment Officer of CalPERS. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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