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MetLife Joins $810 Billion Norway Fund in Property Deal

MetLife Inc., the largest U.S. life insurer, joined Norway’s $810 billion sovereign wealth fund in a venture that will invest in U.S. office properties, starting with one of Boston’s tallest buildings.

The initial bet with Norges Bank Investment Management is on One Financial Center, a 46-story building in Boston’s Dewey Square, the New York-based insurer said today in a statement. Norges Bank paid $238 million for a 47.5 percent stake, the fund said in a separate statement, and MetLife holds the rest.