Tag Archives: Oil Fund

Reuters: Norway wealth fund, Prologis in $2 bln real estate acquisition

OSLO, Nov 25 (Reuters) – Norway’s sovereign wealth fund and property investment group Prologis Inc have agreed to jointly buy a $1.99 billion logistics real estate portfolio, Norges Bank Investment Management (NBIM) said in a statement.

“The portfolio consists of 127 properties located across multiple U.S. markets, including Southern California, San Francisco Bay Area, Seattle and Dallas,” it added.

Read entire article HERE.

Bloomberg: Norway’s $1.1 Trillion Wealth Fund to Deepen Climate Risk Work

Norway’s $1.1 trillion sovereign wealth fund plans to expand its work on assessing climate risk, from pushing for better company reporting to expanding flood analysis for its real estate assets.

The Norwegian fund, the biggest of its kind, already has a variety of instruments to measure how climate change may affect demand, spur regulation or physically damage assets. It has cut a large part of its exposure to coal production and also follows ethical guidelines for its investments that incorporate climate and environmental standards.

Read entire article HERE.

Bloomberg: Here’s What Lawmakers Want to Do With Norway’s $1 Trillion Fund

Key lawmakers gave a nod to a range of changes for Norway’s $1 trillion sovereign wealth fund — from divesting some of its oil stocks, to an overhaul of its fixed-income holdings and tighter restrictions on coal investments.

But even after one of the most eventful years in the fund’s history, more change could be coming, documents from parliament’s Finance Committee revealed.

As the committee as expected late on Tuesday approved the government’s plans ahead of a vote in parliament, opposition politicians made a series of proposals and comments that show what the world’s biggest wealth fund may have in store in the years ahead, maybe even as soon as after the 2021 election.

Read entire article HERE.

Reuters: Norway’s wealth fund extends ownership of New York real estate

Norway’s sovereign wealth fund will pay about $98 million dollars to extend the term of its ownership in a portfolio of New York properties and to acquire a few new, the fund said on Wednesday.

“The partnership between Norges Bank Investment Management (NBIM), Trinity Church Wall Street and Hines has extended the remaining 72-year ownership interest in the Hudson Square portfolio in New York City to a 99-year term,” it said in a statement.

Read entire article HERE.

Bloomberg: Oil Divestment List for Norway’s $1 Trillion Fund Isn’t Final

Figuring out exactly which oil companies Norway is targeting for divestment wasn’t easy last week when the government made its historic announcement. It turns out no one knows precisely yet.

After revealing it would allow its $1 trillion wealth fund to sell out of $7.5 billion in upstream oil and gas companies, the government disseminated two separate lists of potential targets: one with 134 companies and one with 150 companies.

The lists also included many refiners and petrochemical groups and would be at odds with the decision to only exclude “upstream” companies. The government now concedes that the actual work to single out divestments remains to be done

Read entire article HERE.