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Norwegian Fund Buys $46 Million London Property, Telegraph Says

July 31 (Bloomberg) -- Norges Bank Investment Management, Norway’s $570 billion sovereign wealth fund, and the Crown Estate made a joint purchase of two properties on London’s Regent Street for 28 million pounds ($46 million), the Sunday Telegraph reported, citing the fund’s chief investment officer for real estate.

The two groups bought Maddox House for 23 million pounds from pension fund clients of Aberdeen Asset Management, and 4 Conduit Street from a private investor, the newspaper said. The Oslo-based fund previously bought a 25 percent stake in the Regent Street shopping area.

“We’re delighted to have made these purchases and expect to continue to broaden our partnership with the Crown Estate on Regent Street,” Karsten Kallevig told the newspaper.

To contact the reporter on this story: Abigail Moses in London at Amoses5@bloomberg.net.

To contact the editor responsible for this story: Paul Armstrong at Parmstrong10@bloomberg.net.

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