NBIM Commits $800M to Blackstone Logistics Real Estate Fund

The strategy will invest in warehouse properties across the U.S. and Canada.



Norges Bank Investment Management will commit $800 million to a fund from Blackstone Americas Logistics, the Norwegian sovereign wealth fund
announced Thursday. 

Blackstone’s Core-Plus North America logistics closed-end fund will invest primarily in logistics warehouses across the U.S. and Canada, primarily in regions with large population centers.  

NBIM, which manages $1.8 trillion in assets, currently owns approximately 138 billion kroner ($13.237 billion) in logistics properties across the U.S. and Europe. 

“We are excited about entering into a partnership with Blackstone,” said Per Løken, NBIM’s global co-head of unlisted real estate, in a statement. “This opportunity allows us to increase our exposure to the U.S. and Canadian logistics markets and grow our knowledge and experience alongside Blackstone.” 

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In January, the fund purchased a $1 billon stake in a logistics portfolio from the Canada Pension Plan Investment Board, and in December 2024, it purchased a European logistics portfolio from Prologis for 166 million euros ($185 million).  

NBIM allocates 71.4% of its portfolio to equities, 26.6% to fixed income, 1.8% to real estate and 0.1% to a portfolio of renewable energy infrastructure assets.  

Related Stories: 

NBIM Acquires Stakes in Offshore Wind Farms 

NBIM Appoints Nicolai Tangen to 2nd Term as CEO 

NBIM Acquires $1B Stake in Logistics Portfolio From CPP Investments 

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