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World’s top sovereign wealth fund ‘to boost property investment’
Yngve Slyngstad, Chief Executive of Norges Bank Investment Management

World’s top sovereign wealth fund ‘to boost property investment’

Norway’s oil fund is looking at increasing its property investment, especially in the United States, says its Chief Executive

The head of Norway’s oil fund, the largest Sovereign Wealth Fund its kind in the world, says it is looking to increase its investment in property.

Yngve Slyngstad, Chief Executive of Norges Bank Investment Management, says property investments currently account for up to 5% of the fund.

But after increasing the size of its team it was now in a position to further build its property portfolio.

“We have now built a real estate team of a significant size that will be able to handle more transactions. Whether we are going to do them or not, that depends on the market and opportunities,” he told Richard Milne, of the FT.com website.

Mr Slyngstad says it will be looking at the large US real estate market “where it is possible to employ considerable capital over a shorter time” as a natural extension to the way it invests at the moment.

The fund has always had a strong local joint venture partner and that would continue, especially now that there was more joint venture partners in place, providing additional potential to invest in attractive properties.

The recent US government crisis, which almost led to a shutdown, had almost no impact on SWF investments and American treasury investments are among the safest available and had an important part in its portfolio, he says.

For the full FT.com video, go to: http://www.valuewalk.com/2013/10/ceo-norways-swf-likes-real-estate-video/

 
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