Norway's Wealth Fund Invests £570 Million in London Real Estate

Norway's sovereign wealth fund, valued at $1.8 trillion, has announced a major investment in European real estate, acquiring a 25% stake in a London property portfolio for £570 million ($739 million) in partnership with Shaftesbury Capital. This portfolio, valued at approximately £2.66 billion, consists of 220 buildings located in the Covent Garden area and is primarily focused on retail and leisure. The deal is set to close in early April, with Shaftesbury retaining the remaining 75% interest and managing the assets. Additionally, the fund is investing €240 million for a 40% stake in AXA Lifestyle Housing, which owns properties in Spain and France. The investment reflects Norway's strategy to diversify its asset holdings and capitalize on high-value real estate markets. Following the announcement, shares of Shaftesbury Capital rose nearly 16% at market opening.