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Norway’s $33 Billion Man Steps Up Search in Asia Real Estate Bet

Karsten Kallevig, the head of real estate at the world’s biggest sovereign wealth fund, has at least $33 billion to spend.

After getting the green-light in 2010 to expand into the property market, Norway’s $860 billion wealth fund has bought real estate in places such as Times Square and the Champs Elysees. It now has a strategy to focus on 10 to 15 cities globally and its efforts to enter Asia are about to intensify, Kallevig said.