Norway's oil fund, AXA to buy real estate loans through JV
OSLO Oct 15 (Reuters) - Norway's $790 billion sovereign wealth fund has formed a joint venture with AXA Real Estate to invest in large senior real estate loans of up to 600 million euros, primarily in France, Germany and the United Kingdom, the fund said on Tuesday.
AXA Real Estate, a unit of French insures AXA will manage the portfolio on behalf of the two investors, the fund, commonly known as the oil fund said.
"The joint venture will allow Norges Bank Investment Management to achieve two main objectives: invest in commercial real estate debt, and invest alongside an experienced team with balance sheet capacity and long term investment horizon," it said in a statement. (Reporting by Balazs Koranyi)
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