NBIM invests £220m in logistics property portfolio

Norway’s Norges Bank Investment Management (NBIM) has invested £220m in a portfolio of 14 logistics properties in the UK.

The asset manager, which is responsible for the investments of the Government Pension Fund Global, has acquired 50 per cent ownership interest in the portfolio.

The acquisition was made as part of its partnership with Prologis, which will own the remaining 50 per cent interest.

Prologis will perform the asset management on the portfolio on behalf of the joint venture.

The agreement was signed on 29 November 2021 and the transaction was concluded on 3 December 2021.

The portfolio is unencumbered by debt and no financing was involved in the transaction.

Prologis UK Logistics Venture, which is a joint venture between Prologis and CBRE Investment Management, was the seller of the portfolio.

The logistics property portfolio has a leasable area of 207,000 square miles.

    Share Story:

Recent Stories

An overview of growth investing
European Pensions Editor, Natalie Tuck, speaks to American Century Investments (ACI), Vice President, Senior Client Portfolio Manager, Kevin Lewis on growth investing.

They discuss how it has performed in 2021, and its outlook, going forward. They also cover ACI’s differentiated growth approach to the investment universe, and how this capitalises on market inefficiencies, as well as how ACI’s team is equipped to invest in this manner.
Podcast: The benefits of private equity in pension fund portfolios
The outbreak of the Covid-19 pandemic, in which stock markets have seen increased volatility, combined with global low interest rates has led to alternative asset classes rising in popularity. Private equity is one of the top runners in this category, and for good reason.

In this podcast, Munich Private Equity Partners Managing Director, Christopher Bär, chats to European Pensions Editor, Natalie Tuck, about the benefits private equity investments can bring to pension fund portfolios and the best approach to take.

Podcast - The power of three: Using Common Contractual Funds to improve tax outcomes for investors
Large asset owners are still investing in equities in a way where they are taxed on their income. The implication is that they get a poorer return. They need to, and can, improve this, but how?

In this podcast, AMX Head of Client and Manager Development, Aaron Overy, and AMX Product Tax Specialist, Kevin Duggan, discuss with European Pensions Editor, Natalie Tuck, about three options to help ensure good withholding tax outcomes for institutional investors.

Mitigating risk
BNP Paribas Asset Management’s head of pension solutions, Julien Halfon, discusses equity hedging with Laura Blows