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Norway’s GPFG Makes First Real Estate Investment in Switzerland

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According to the press release, “the Norwegian Government Pension Fund Global today bought the Uetlihof office complex in Zurich for 1 billion Swiss francs, or about 6.1 billion kroner, from the Swiss bank Credit Suisse.

Credit Suisse will lease the property for 25 years starting today and has the option to extend the lease by as many as 15 years. Uetlihof, located about 3 kilometres southwest of Zurich’s city centre, is Credit Suisse’s main office building worldwide.

‘The transaction marks the fund’s first property investment in Switzerland,’ says Karsten Kallevig, chief investment officer for real estate at Norges Bank Investment Management (NBIM), manager of the fund. ‘ince entering the real estate market in 2011, the fund has also invested in property in the UK, France and Germany.’

Credit Suisse will have operational responsibility for Uetlihof during the fixed lease period. The office complex has more than 8,000 workspaces, as well as a precious metal vault and data centre. It consists of 173,807 square metres of lettable space.”

Read more: NBIM Press Release

Russia-Japan Investment Fund to Back Wood Pellet Production in Russia

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The Russian Far East has a lot of timber, and for that wood pellets is a source of biofuel. A while back, the Russian Direct Investment Fund (RDIF) formed the Russia-Japan Investment Fund (RJIF) with the Japan Bank for International Cooperation (JBIC). RDIF and JBICIG Partners as part of RJIF, together with RFP Group and Japan’s Prospect Co., Ltd. have agreed to collaborate and consider potential investments in Russia’s biofuel industry. JBICIG Partners is a subsidiary of the Japan Bank for International Cooperation.

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RDIF Lures Asian Investors Toward Russian Surgical Robot Project

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The Russian Direct Investment Fund (RDIF) is partnering with a number of unnamed Asian co-investors to allocate capital toward a project to create and manufacture Russian surgical robots. [ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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Oman Infrastructure Investment Fund Near Creation

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The Oman State General Reserve Fund is nearing the formation of the Oman Infrastructure Investment Fund. This fund will raise capital from third-party investors to invest in Oman’s infrastructure and in certain areas of technology.

The fund will also invest in areas of technology in healthcare, specifically in medical equipment. The fund will also explore investing in blockchain technologies.

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