Government Pension Fund - Global makes maiden investment in real estate

by Forena Akthar

  • 10 Nov 2010
  • PE
  • RE

The NOK 3 trillion Government Pension Fund - Global has acquired a 25% stake in Crown Estate’s GBP 1.6 billion Regent Street portfolio, marking its maiden investment in the asset class. The sovereign wealth fund acquired the stake in the London-based retail portfolio for GBP 448 million. Crown Estate required an investment partner for this portfolio because it is not permitted to utilize leverage for its investments. Crown Estate will still retain management control of the portfolio, and therefore occupiers and other stakeholders will not see any alterations to the management of Regent Street. Government Pension Fund - Global has a long-term target allocation of 5% to real estate and will be looking to build a diversified property portfolio in the next several years

Preqin’s Real Estate Online product currently includes profiles for over 30 sovereign wealth funds with an active interest in real estate.

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