Published by Global Banking & Finance Review®
Posted on March 20, 2025
1 min readLast updated: January 24, 2026
Add as preferred source on GoogleNorway's sovereign wealth fund invests $1 billion in real estate, partnering with Shaftesbury Capital and AXA Lifestyle Housing in Europe.
COPENHAGEN (Reuters) -Norway's sovereign wealth fund said on Thursday it had bought stakes in two real estate portfolios from Shaftesbury Capital and AXA Lifestyle housing for a total amount of $1 billion.
Norges Bank Investment Management (NBIM) said it bought a 25% interest in a property portfolio in London in a new joint venture with Shaftesbury Capital for 570 million pounds, ($740.03 million), valuing the portfolio at 2.66 billion pounds.
It said in a separate statement it has agreed to buy a 40% interest in AXA Lifestyle Housing, which owns and operates student housing and co-living properties in France and Spain, for 240 million euros ($261.02 million).
Shaftesbury Capital will retain the remaining 75% interest and manage the London portfolio on behalf of the joint venture, while subsidiaries of AXA will hold 60% ownership in the other portfolio.
Completion of the deal with Shaftesbury Capital is expected in early April, while the agreement with AXA Lifestyle Housing is expeced to be completed in the first quarter of this year, NBIM added.
($1 = 0.7702 pounds)
($1 = 0.9195 euros)
(Reporting by Louise Breusch Rasmussen, editing by Stine Jacobsen and Terje Solsvik)
The main topic is Norway's sovereign wealth fund investing $1 billion in real estate with Shaftesbury Capital and AXA Lifestyle Housing.
The partners are Shaftesbury Capital and AXA Lifestyle Housing.
The investments involve properties in London, France, and Spain.
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