Norges Bank Investment Management will commit $800 million to a fund from Blackstone Americas Logistics, the Norwegian sovereign wealth fund announced Thursday.
Blackstone’s Core-Plus North America logistics closed-end fund will invest primarily in logistics warehouses across the U.S. and Canada, primarily in regions with large population centers.
NBIM, which manages $1.8 trillion in assets, currently owns approximately 138 billion kroner ($13.237 billion) in logistics properties across the U.S. and Europe.
“We are excited about entering into a partnership with Blackstone,” said Per Løken, NBIM’s global co-head of unlisted real estate, in a statement. “This opportunity allows us to increase our exposure to the U.S. and Canadian logistics markets and grow our knowledge and experience alongside Blackstone.”
Want the latest institutional investment industry?news and insights? Sign up for CIO newsletters. ?
In January, the fund purchased a $1 billon stake in a logistics portfolio from the Canada Pension Plan Investment Board, and in December 2024, it purchased a European logistics portfolio from Prologis for 166 million euros ($185 million).
NBIM allocates 71.4% of its portfolio to equities, 26.6% to fixed income, 1.8% to real estate and 0.1% to a portfolio of renewable energy infrastructure assets.
Related Stories:
NBIM Acquires Stakes in Offshore Wind Farms
NBIM Appoints Nicolai Tangen to 2nd Term as CEO
NBIM Acquires $1B Stake in Logistics Portfolio From CPP Investments
Tags: Blackstone, Norges Bank Investment Management, Real Assets
#NBIM #Commits #800M #Blackstone #Logistics #Real #Estate #Fund