NBIM: Listed and Private Real Estate is All The Same in The Long Run
September 5, 2023 | Amanda White | Top 1000 Funds
The differentiating characteristics of unlisted and listed real estate diminish over time according to new research by Norges Bank Investment Management, supporting the sovereign wealth funds’ unique combined strategy for real estate that sees both private and listed sit in the same team. Amanda White spoke to Norges’ CIO of real assets and global head of research.
For the past three years Norges Bank Investment Management, which manages the $1.43 trillion Government Pension Fund Global, has managed its listed and unlisted real estate teams under one umbrella. It was part of a re-organisation to bring the teams closer together following the 2019 shift to manage the real estate exposure in one combined strategy.
The combined strategy is underpinned by the belief that listed and private real estate perform more or less the same over the long term, chief investment officer of real assets Mie Caroline Holstad told Top1000funds.com in an interview. And now the fund’s research department, led by global head Fredrik Willumsen, have research that supports that strategy.
