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New York

How much is Norges really shelling out on NYC real estate?

From the January issue:  It’s always good to have deep pockets, but few institutional investors carry checkbooks backed by entire nations. Yet point to one of New York City’s recent big-ticket real estate deals and there’s a good chance a sovereign wealth fund was one of the buyers.

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Through the first 11 months of 2015, sovereign wealth funds spent more than $22.6 billion on real estate in the United States, up from about $9.8 billion in 2014, according to research firm Real Capital Analytics.

The Real Deal, in its January issue, profiled five of the biggest — the sovereign wealth funds for Abu Dhabi, Kuwait, Norway, Singapore and Qatar. In the first part of this five-part series, we profile oil-rich Norwegian fund Norges Bank Investment Management. [more]