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Property Investor Europe News

Norway Oil Fund in ¤2.4bn Prologis JV; targets $11bn at US property

07 January 2013, 03:56 AM

Norway has granted permission for its giant ¤508bn pension fund to invest in property outside Europe from this year. The news came days after the fund's manager, Norges Bank Investment Management, signed a ¤2.4bn joint venture with US-based Prologis to invest in European industrial property - and followed an announcement that it is also targeting $11bn at the US.