Norway, Prologis Launch $3B Industrial Property Fund

Law360, New York (December 20, 2012, 5:48 PM EST) -- Norway's sovereign wealth fund and real estate investor Prologis Inc. on Thursday announced a €2.4 billion ($3.1 billion) joint venture to buy and manage industrial properties across Europe, a deal that gives Prologis a deep-pocketed new investor and expands Norges Bank's growing property portfolio.

The venture, Prologis European Logistics Partners, is a 50-50 split between Norges Bank Investment Management, which manages the Norway's public pension plan, and Prologis, which have both kicked in €1.2 billion in equity. The fund will aim to keep debt as less...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.