KLP has invested in two new real estate funds. Norway’s biggest pension fund has bought an around EUR 100m share from an existing investor in the fund entitled CBRE Pan-European Core Fund, or PEC, in a second-hand transaction.
Being one of the biggest funds of its kind in Europe, PEC’s real estate portfolio of around NOK 70bn (EUR 6.9bn) consists of office buildings, commercial real estate, hotels, logistic buildings and rentals across 11 European countries, mainly located in northern and western Europe.
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