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Norway SWF Looks to US Real Estate in 2013

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Norway’s Government Pension Fund Global (GPFG) plans to invest in U.S. real estate by the end of next year at the latest. The GPFG understands the United States has the biggest real estate market and exposure to the American market is a necessity.

Already Norway’s sovereign wealth fund has made purchases in institutional real estate in Paris and London. The sovereign wealth fund sees sprouts of recovery in U.S. real estate values. Investment allocation to U.S. real estate will be in well-developed markets such as New York City. Properties will be offices and retail establishments located in core real estate markets.

For the most part, Norway’s sovereign fund is carefully treading real estate investing. Their 5% allocation to real estate will not be deployed in one time frame. The fund eventually wants exposure to Asian property markets as well, but that will follow expansion in U.S. markets.

Blackstone Defeated on Investa Office Fund Bid

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The Blackstone Group threw in the towel on a bid to take over the Investa Office Fund, a vehicle that owns prized Australian office properties. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Temasek’s Bond Expected to Lure Retail Investors

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Singapore’s Temasek Holdings, through its subsidiary Temasek Financial (IV) Private Limited, is planning a 5-year bond that aims to yield 2.7% for retail investors. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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QIA Becomes the Largest Shareholder in Colonial

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The Qatar Investment Authority (QIA) became the biggest shareholder of Inmobiliaria Colonial, SOCIMI, S.A. (Colonial), a Spanish listed real estate company. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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